Weatherford International plc (NASDAQ:WFRD) Receives Average Rating of “Buy” from Analysts

Weatherford International plc (NASDAQ:WFRD) has earned a consensus rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $144.88.

A number of research analysts have recently weighed in on the company. Evercore ISI dropped their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Bank of America lowered their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 14th. Raymond James decreased their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Citigroup decreased their target price on Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Benchmark reissued a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Thursday, October 24th.

Weatherford International Stock Performance

Shares of WFRD opened at $79.00 on Friday. The stock has a 50 day moving average price of $91.28 and a 200 day moving average price of $108.72. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.80 and a beta of 0.58. Weatherford International has a 52-week low of $77.24 and a 52-week high of $135.00.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. Research analysts predict that Weatherford International will post 6.74 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, November 6th. Weatherford International’s payout ratio is currently 14.04%.

Insider Activity

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the sale, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at $932,764.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the sale, the chief accounting officer now directly owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Weatherford International

Institutional investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new position in Weatherford International during the first quarter worth about $29,000. Farther Finance Advisors LLC lifted its holdings in shares of Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after purchasing an additional 281 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Weatherford International in the first quarter valued at about $33,000. nVerses Capital LLC bought a new stake in shares of Weatherford International in the third quarter valued at about $34,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Weatherford International by 31.0% in the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after purchasing an additional 85 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

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.