Weatherford International plc (NASDAQ:WFRD) Receives $150.75 Consensus Price Target from Brokerages

Weatherford International plc (NASDAQ:WFRD) has received an average rating of “Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $150.75.

A number of equities research analysts have commented on the stock. Citigroup cut their target price on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Benchmark reissued a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Wednesday, July 24th. Barclays boosted their price target on Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Bank of America raised their price objective on shares of Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Raymond James reduced their target price on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th.

Insider Buying and Selling

In other news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank purchased a new stake in Weatherford International during the 2nd quarter valued at $1,653,000. Hsbc Holdings PLC purchased a new stake in Weatherford International in the 4th quarter worth about $3,309,000. Allspring Global Investments Holdings LLC lifted its stake in Weatherford International by 669.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company’s stock worth $1,872,000 after purchasing an additional 14,112 shares during the last quarter. Entropy Technologies LP boosted its position in shares of Weatherford International by 79.7% during the first quarter. Entropy Technologies LP now owns 11,985 shares of the company’s stock valued at $1,383,000 after buying an additional 5,315 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Weatherford International by 107.2% in the first quarter. Sei Investments Co. now owns 23,527 shares of the company’s stock worth $2,715,000 after buying an additional 12,170 shares during the period. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Stock Up 2.0 %

WFRD stock opened at $91.60 on Wednesday. The stock has a market capitalization of $6.70 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.62 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. Weatherford International has a 1-year low of $82.16 and a 1-year high of $135.00. The business has a fifty day moving average price of $99.84 and a 200-day moving average price of $113.23.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company posted $1.12 EPS. Weatherford International’s revenue was up 10.3% on a year-over-year basis. Equities analysts forecast that Weatherford International will post 6.81 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Tuesday, August 13th. Weatherford International’s dividend payout ratio is currently 16.18%.

Weatherford International Company Profile

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.