Weatherford International plc (NASDAQ:WFRD) Receives $107.63 Average Target Price from Brokerages

Weatherford International plc (NASDAQ:WFRD) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $107.63.

A number of research firms recently issued reports on WFRD. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and lowered their target price for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Citigroup decreased their price target on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Barclays cut their price objective on shares of Weatherford International from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Raymond James decreased their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 7th. Finally, Piper Sandler cut their price target on Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th.

Weatherford International Stock Down 2.9 %

Shares of NASDAQ WFRD opened at $53.10 on Wednesday. The stock has a market cap of $3.87 billion, a P/E ratio of 7.90, a P/E/G ratio of 1.65 and a beta of 0.61. Weatherford International has a 52-week low of $51.24 and a 52-week high of $135.00. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01. The firm has a 50 day moving average price of $62.09 and a 200 day moving average price of $74.78.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. Analysts expect that Weatherford International will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, February 21st were issued a $0.25 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. Weatherford International’s dividend payout ratio is presently 14.88%.

Insider Activity

In other news, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the transaction, the executive vice president now directly owns 11,109 shares in the company, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott C. Weatherholt sold 44,505 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the transaction, the executive vice president now owns 125,019 shares in the company, valued at $8,272,507.23. This represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,692 shares of company stock worth $6,207,725 over the last quarter. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Several institutional investors and hedge funds have recently made changes to their positions in WFRD. Lindbrook Capital LLC increased its stake in Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after purchasing an additional 204 shares during the period. Huntington National Bank increased its stake in shares of Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after acquiring an additional 257 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Weatherford International in the 4th quarter worth approximately $29,000. R Squared Ltd bought a new position in shares of Weatherford International during the fourth quarter valued at $36,000. Finally, Millburn Ridgefield Corp bought a new position in shares of Weatherford International in the third quarter worth approximately $42,000. Institutional investors own 97.23% of the company’s stock.

About Weatherford International

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.