Weatherford International plc (NASDAQ:WFRD) Receives $96.63 Consensus Price Target from Analysts

Weatherford International plc (NASDAQ:WFRD) has been given a consensus rating of “Moderate Buy” by the eight research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $96.63.

WFRD has been the topic of a number of research analyst reports. Citigroup dropped their price target on Weatherford International from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Barclays cut their price objective on Weatherford International from $85.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Piper Sandler cut their price objective on Weatherford International from $80.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Finally, Raymond James cut Weatherford International from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $73.00 to $69.00 in a research report on Thursday, April 24th.

Insider Activity at Weatherford International

In related news, Director Neal P. Goldman purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average price of $42.04 per share, with a total value of $504,480.00. Following the completion of the purchase, the director now directly owns 25,311 shares in the company, valued at $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WFRD. Barclays PLC grew its position in Weatherford International by 59.4% in the third quarter. Barclays PLC now owns 31,349 shares of the company’s stock valued at $2,663,000 after acquiring an additional 11,680 shares during the last quarter. Empowered Funds LLC boosted its holdings in Weatherford International by 34.9% in the fourth quarter. Empowered Funds LLC now owns 95,190 shares of the company’s stock valued at $6,818,000 after acquiring an additional 24,637 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Weatherford International by 130.2% during the 4th quarter. Empirical Finance LLC now owns 11,076 shares of the company’s stock worth $793,000 after buying an additional 6,264 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Weatherford International by 28.6% during the 4th quarter. Van ECK Associates Corp now owns 917,530 shares of the company’s stock worth $65,723,000 after buying an additional 204,317 shares in the last quarter. Finally, Stanley Laman Group Ltd. acquired a new position in shares of Weatherford International during the fourth quarter worth approximately $2,785,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Trading Up 1.1%

NASDAQ:WFRD opened at $53.03 on Monday. Weatherford International has a 1-year low of $36.74 and a 1-year high of $135.00. The business’s 50-day moving average price is $45.69 and its two-hundred day moving average price is $58.52. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 1.65 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, equities analysts expect that Weatherford International will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Tuesday, May 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, May 6th. Weatherford International’s dividend payout ratio (DPR) is presently 16.00%.

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.