Weatherford International PLC (NASDAQ:WFRD) Stock Has Consensus Price Target of $114.50

Weatherford International PLC (NASDAQ:WFRD) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $114.50.

WFRD has been the subject of a number of recent analyst reports. 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. Zacks Research downgraded Weatherford International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. Raymond James Financial cut their target price on Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Wall Street Zen cut Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, UBS Group lowered their target price on Weatherford International from $120.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd.

Insider Transactions at Weatherford International

In related news, Director Neal P. Goldman sold 16,000 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $84.84, for a total transaction of $1,357,440.00. Following the transaction, the director directly owned 12,187 shares of the company’s stock, valued at $1,033,945.08. This represents a 56.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacqueline C. Mutschler sold 4,094 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $90.50, for a total transaction of $370,507.00. Following the transaction, the director directly owned 29,093 shares in the company, valued at approximately $2,632,916.50. This represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,094 shares of company stock valued at $2,244,487 in the last quarter. 2.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Weatherford International

Several institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc grew its stake in Weatherford International by 72.0% in the second quarter. IFP Advisors Inc now owns 313 shares of the company’s stock valued at $26,000 after acquiring an additional 131 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Weatherford International by 24.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock worth $55,000 after purchasing an additional 137 shares during the period. Corient Private Wealth LLC raised its position in shares of Weatherford International by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock worth $385,000 after purchasing an additional 146 shares during the period. PNC Financial Services Group Inc. lifted 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 purchasing an additional 151 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Weatherford International by 9.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,191 shares of the company’s stock worth $179,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Trading Down 2.9%

NASDAQ:WFRD opened at $80.41 on Friday. Weatherford International has a 52 week low of $60.84 and a 52 week high of $113.15. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.77 and a current ratio of 2.34. The firm’s fifty day moving average is $88.94 and its 200-day moving average is $93.74. The firm has a market cap of $5.75 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.42 and a beta of 0.90.

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

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were given a dividend of $0.2750 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.4%. Weatherford International’s dividend payout ratio (DPR) is 21.70%.

Weatherford International Company Profile

Weatherford International plc (NASDAQ: WFRD) is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the exploration, drilling, completion, production and intervention of onshore and offshore wells.

The company’s portfolio includes drilling and well-construction systems, formation evaluation tools, well-completion equipment, production optimization technologies, artificial-lift systems and well-intervention services.