Weatherford International plc (NASDAQ:WFRD) Given Consensus Rating of “Moderate Buy” by Analysts

Weatherford International plc (NASDAQ:WFRD) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $121.25.

Several research analysts recently weighed in on WFRD shares. Barclays cut their target price on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Bank of America lowered their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Piper Sandler started coverage on Weatherford International in a research note on Thursday, December 19th. They set a “neutral” rating and a $87.00 price target on the stock. Finally, Citigroup lowered their price objective on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, December 20th.

Weatherford International Stock Performance

Shares of WFRD opened at $72.13 on Friday. The stock has a market capitalization of $5.24 billion, a P/E ratio of 10.13, a P/E/G ratio of 0.64 and a beta of 0.64. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. Weatherford International has a 1 year low of $66.23 and a 1 year high of $135.00. The company’s fifty day moving average is $78.26 and its two-hundred day moving average is $94.74.

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

Weatherford International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders 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 annualized dividend and a yield of 1.39%. Weatherford International’s dividend payout ratio is presently 14.04%.

Insider Transactions at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the transaction, the chief accounting officer now directly owns 11,680 shares of the company’s stock, valued at $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David John Reed sold 4,762 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the sale, the executive vice president now directly owns 11,109 shares of the company’s stock, valued at $807,179.94. The trade was a 30.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently bought and sold shares of WFRD. GAMMA Investing LLC raised its stake in shares of Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $44,000 after purchasing an additional 141 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Weatherford International by 20.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,063 shares of the company’s stock valued at $129,000 after purchasing an additional 182 shares in the last quarter. KBC Group NV increased its stake in Weatherford International by 10.4% during the 3rd quarter. KBC Group NV now owns 1,945 shares of the company’s stock worth $165,000 after buying an additional 184 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Weatherford International by 26.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 949 shares of the company’s stock worth $116,000 after buying an additional 200 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its position in Weatherford International by 7.3% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 2,997 shares of the company’s stock valued at $255,000 after buying an additional 203 shares during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

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.