Weatherford International plc (NASDAQ:WFRD) Receives $107.63 Average Price Target from Analysts

Shares of Weatherford International plc (NASDAQ:WFRD) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $106.75.

Several brokerages have commented on WFRD. Citigroup lowered their target price on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, December 20th. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Barclays decreased their target price on Weatherford International from $92.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James cut their price objective on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a report on Friday, February 7th. Finally, Piper Sandler lowered their target price on Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, February 10th.

Insider Activity at Weatherford International

In related news, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $8,272,507.23. This represents a 26.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David John Reed sold 4,762 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $72.66, for a total value of $346,006.92. Following the transaction, the executive vice president now directly owns 11,109 shares in the company, valued at $807,179.94. This trade represents a 30.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,692 shares of company stock valued at $6,207,725. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently made changes to their positions in WFRD. Lindbrook Capital LLC lifted its stake in Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after acquiring an additional 204 shares during the last quarter. Huntington National Bank lifted its stake in Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock valued at $28,000 after purchasing an additional 257 shares during the last quarter. Zions Bancorporation N.A. bought a new position in Weatherford International during the fourth quarter worth about $29,000. R Squared Ltd acquired a new position in Weatherford International during the fourth quarter worth approximately $36,000. Finally, Millburn Ridgefield Corp bought a new stake in Weatherford International in the third quarter valued at approximately $42,000. 97.23% of the stock is owned by institutional investors.

Weatherford International Stock Performance

WFRD stock opened at $54.19 on Wednesday. Weatherford International has a twelve month low of $51.24 and a twelve month high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.95 billion, a P/E ratio of 8.06, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. The business’s fifty day moving average is $61.30 and its 200-day moving average is $74.26.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. Equities research analysts forecast that Weatherford International will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International’s dividend payout ratio is presently 14.88%.

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.