Weatherford International plc (NASDAQ:WFRD – Get Rating) traded down 9.8% on Friday . The company traded as low as $28.24 and last traded at $28.30. 537 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 638,663 shares. The stock had previously closed at $31.38.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Weatherford International in a research note on Wednesday, June 8th. They issued a “buy” rating and a $49.00 price objective for the company. Evercore ISI reiterated an “outperform” rating and issued a $53.00 price objective on shares of Weatherford International in a research note on Tuesday, September 6th. Finally, The Goldman Sachs Group upped their price target on Weatherford International from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $46.80.
Weatherford International Price Performance
The company has a quick ratio of 1.66, a current ratio of 2.18 and a debt-to-equity ratio of 4.82. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -6.00 and a beta of 1.40. The company has a fifty day simple moving average of $25.50 and a two-hundred day simple moving average of $28.90.
Institutional Trading of Weatherford International
Several institutional investors and hedge funds have recently made changes to their positions in WFRD. Northern Trust Corp lifted its position in Weatherford International by 51.0% during the fourth quarter. Northern Trust Corp now owns 170,855 shares of the company’s stock worth $4,736,000 after buying an additional 57,689 shares during the period. Dimensional Fund Advisors LP grew its stake in Weatherford International by 105.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 282,114 shares of the company’s stock valued at $7,818,000 after purchasing an additional 144,645 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Weatherford International in the 4th quarter worth approximately $887,000. Wolverine Trading LLC grew its position in shares of Weatherford International by 111.6% in the 4th quarter. Wolverine Trading LLC now owns 41,487 shares of the company’s stock worth $1,091,000 after acquiring an additional 21,877 shares in the last quarter. Finally, Beaconlight Capital LLC acquired a new position in shares of Weatherford International in the 4th quarter worth approximately $1,615,000. 94.13% of the stock is currently owned by hedge funds and other institutional investors.
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 in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing, cementing, and coiled-tubing intervention; and drill stem test tools, surface well testing, and multiphase flow measurement services.
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