Weatherford International (NASDAQ:WFRD) Shares Up 4.5% – Time to Buy?

Weatherford International PLC (NASDAQ:WFRDGet Free Report)’s stock price rose 4.5% on Monday . The company traded as high as $99.18 and last traded at $98.0040. Approximately 140,638 shares were traded during trading, a decline of 89% from the average session volume of 1,270,798 shares. The stock had previously closed at $93.79.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WFRD. Weiss Ratings downgraded shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. UBS Group raised shares of Weatherford International from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $113.00 to $114.00 in a research note on Wednesday, July 29th. Raymond James Financial dropped their target price on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Citigroup decreased their price target on Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 26th. Finally, Zacks Research lowered Weatherford International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $114.25.

Read Our Latest Analysis on WFRD

Weatherford International Trading Up 2.4%

The firm’s 50-day moving average price is $86.63 and its 200 day moving average price is $95.63. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.61 and a beta of 0.87. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.81.

Weatherford International (NASDAQ:WFRDGet Free Report) last released its earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.87 EPS. As a group, equities analysts expect that Weatherford International PLC will post 5.22 EPS for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.275 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. Weatherford International’s dividend payout ratio is currently 21.70%.

Insider Transactions at Weatherford International

In other news, Director Jacqueline C. Mutschler sold 4,094 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $90.50, for a total transaction of $370,507.00. Following the transaction, the director owned 29,093 shares of the company’s stock, valued at $2,632,916.50. This represents a 12.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Duster sold 6,000 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total value of $516,540.00. Following the completion of the sale, the director owned 11,187 shares of the company’s stock, valued at approximately $963,088.83. This represents a 34.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,094 shares of company stock valued at $2,244,487 in the last 90 days. 2.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently modified their holdings of the company. TD Private Client Wealth LLC grew its holdings in shares of Weatherford International by 4.2% during the fourth quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock worth $252,000 after purchasing an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Weatherford International by 24.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock worth $55,000 after buying an additional 137 shares in the last quarter. Corient Private Wealth LLC grew its stake in Weatherford International by 3.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock worth $383,000 after buying an additional 146 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Weatherford International by 4.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,851 shares of the company’s stock worth $364,000 after buying an additional 151 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after buying an additional 178 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

About Weatherford International

(Get Free Report)

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.

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