Weatherford International (NASDAQ:WFRD) Hits New 52-Week High – Time to Buy?

by · The Cerbat Gem

Shares of Weatherford International PLC (NASDAQ:WFRD – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $81.43 and last traded at $81.31, with a volume of 1210351 shares. The stock had previously closed at $80.10.

Analysts Set New Price Targets

Several analysts recently commented on WFRD shares. Melius began coverage on Weatherford International in a report on Wednesday, August 20th. They issued a “buy” rating and a $108.00 price objective for the company. Melius Research began coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They set a “buy” rating and a $108.00 target price for the company. Piper Sandler upped their target price on shares of Weatherford International from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Zacks Research upgraded shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, BMO Capital Markets assumed coverage on Weatherford International in a research note on Friday, October 10th. They issued an “outperform” rating and a $82.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Weatherford International currently has an average rating of “Moderate Buy” and an average target price of $90.20.

View Our Latest Report on Weatherford International

Weatherford International Trading Down 1.1%

The stock has a fifty day simple moving average of $71.52 and a 200 day simple moving average of $61.94. The firm has a market capitalization of $5.76 billion, a P/E ratio of 14.55 and a beta of 0.79. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.93.

Weatherford International (NASDAQ:WFRD – Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share 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 return on equity of 28.28% and a net margin of 8.15%.The business’s revenue was down 12.6% on a year-over-year basis. During the same period last year, the company earned $2.06 EPS. As a group, research analysts forecast that Weatherford International PLC 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, November 6th. Weatherford International’s dividend payout ratio (DPR) is 18.12%.

Insider Activity at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $77.25, for a total value of $164,465.25. Following the transaction, the executive vice president owned 15,673 shares of the company’s stock, valued at approximately $1,210,739.25. The trade was a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently made changes to their positions in WFRD. Holocene Advisors LP raised its holdings in Weatherford International by 712.8% during the 2nd quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after buying an additional 1,443,512 shares during the period. Federated Hermes Inc. lifted its stake in Weatherford International by 1,005.3% in the second quarter. Federated Hermes Inc. now owns 1,056,407 shares of the company’s stock worth $53,148,000 after acquiring an additional 960,832 shares during the period. Millennium Management LLC boosted its stake in shares of Weatherford International by 429.2% during the first quarter. Millennium Management LLC now owns 1,103,067 shares of the company’s stock valued at $59,069,000 after purchasing an additional 894,636 shares in the last quarter. Norges Bank bought a new stake in Weatherford International during the 2nd quarter valued at $41,542,000. Finally, Balyasny Asset Management L.P. boosted its position in Weatherford International by 1,084.6% during the second quarter. Balyasny Asset Management L.P. now owns 686,010 shares of the company’s stock valued at $34,513,000 after purchasing an additional 628,100 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

(Get Free Report)

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.

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