Weatherford International plc (NASDAQ:WFRD) Given Average Rating of “Buy” by Brokerages

Shares of Weatherford International plc (NASDAQ:WFRD) have been assigned an average rating of “Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $140.50.

A number of equities analysts have weighed in on WFRD shares. Citigroup decreased their target price on Weatherford International from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, December 9th. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and cut their price target for the company from $132.00 to $98.00 in a research note on Friday. Evercore ISI cut their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Benchmark restated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Thursday, October 24th. Finally, Bank of America cut their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th.

Weatherford International Price Performance

WFRD opened at $76.09 on Monday. The stock has a 50-day moving average price of $84.22 and a 200-day moving average price of $100.34. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The firm has a market cap of $5.53 billion, a PE ratio of 10.69, a P/E/G ratio of 0.64 and a beta of 0.58. Weatherford International has a 1 year low of $75.79 and a 1 year high of $135.00.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.41. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. Weatherford International’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 EPS. Sell-side analysts predict that Weatherford International will post 6.85 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 6th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Insider Activity at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the transaction, the chief accounting officer now directly owns 11,680 shares in the company, valued at $932,764.80. This represents a 35.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Weatherford International in the 3rd quarter worth approximately $571,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Weatherford International during the 2nd quarter worth approximately $20,584,000. Merewether Investment Management LP raised its holdings in shares of Weatherford International by 38.8% during the 2nd quarter. Merewether Investment Management LP now owns 549,803 shares of the company’s stock worth $67,323,000 after acquiring an additional 153,800 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Weatherford International by 33.0% during the 2nd quarter. Millennium Management LLC now owns 631,862 shares of the company’s stock worth $77,372,000 after acquiring an additional 156,756 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Weatherford International by 1,138.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company’s stock worth $2,728,000 after acquiring an additional 29,530 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Company Profile

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.