Weatherford International PLC (NASDAQ:WFRD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Weatherford International PLC (NASDAQ:WFRD) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $94.70.

A number of analysts recently weighed in on WFRD shares. Barclays increased their price objective on Weatherford International from $81.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Zacks Research upgraded shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. BMO Capital Markets started coverage on Weatherford International in a report on Friday, October 10th. They issued an “outperform” rating and a $82.00 target price on the stock. The Goldman Sachs Group increased their price objective on Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, Piper Sandler upped their price target on Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th.

Weatherford International Stock Performance

Shares of WFRD stock opened at $78.17 on Friday. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 14.16 and a beta of 0.79. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.93. The business’s 50-day moving average price is $74.14 and its 200-day moving average price is $63.97. Weatherford International has a 12 month low of $36.74 and a 12 month high of $82.26.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. Weatherford International had a net margin of 8.15% and a return on equity of 28.28%. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.06 EPS. Equities research analysts forecast that Weatherford International will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.00 annualized dividend and a yield of 1.3%. Weatherford International’s payout ratio is currently 18.12%.

Insider Buying and Selling at Weatherford International

In related news, EVP Kristin Ruzicka sold 2,129 shares of Weatherford International stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $77.25, for a total value of $164,465.25. Following the completion of the sale, the executive vice president owned 15,673 shares of the company’s stock, valued at approximately $1,210,739.25. This trade represents a 11.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Large investors have recently modified their holdings of the business. Quent Capital LLC purchased a new stake in shares of Weatherford International during the 3rd quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Weatherford International in the second quarter worth $27,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after acquiring an additional 253 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Weatherford International by 69.8% in the second quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock valued at $29,000 after purchasing an additional 240 shares in the last quarter. Finally, American National Bank & Trust raised its stake in shares of Weatherford International by 2,392.0% during the 2nd quarter. American National Bank & Trust now owns 623 shares of the company’s stock valued at $31,000 after purchasing an additional 598 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

About Weatherford International

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.