Weatherford International PLC (NASDAQ:WFRD) Receives $110.67 Average Price Target from Analysts

by · The Markets Daily

Shares of Weatherford International PLC (NASDAQ:WFRD – Get Free Report) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $110.6667.

A number of analysts have recently weighed in on WFRD shares. Weiss Ratings downgraded shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Citigroup boosted their target price on shares of Weatherford International from $134.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Barclays upped their price target on shares of Weatherford International from $111.00 to $156.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada assumed coverage on shares of Weatherford International in a report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 price target on the stock. Finally, Piper Sandler upped their price target on shares of Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd.

Check Out Our Latest Stock Analysis on Weatherford International

Weatherford International Stock Down 2.6%

Shares of WFRD stock opened at $89.39 on Friday. The stock has a market cap of $6.43 billion, a P/E ratio of 13.99, a PEG ratio of 0.82 and a beta of 0.82. Weatherford International has a 52 week low of $46.20 and a 52 week high of $113.15. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83. The company’s fifty day simple moving average is $103.35 and its two-hundred day simple moving average is $95.27.

Weatherford International (NASDAQ:WFRD – Get Free Report) last posted its earnings results on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $1.03 EPS. The business’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts predict that Weatherford International will post 6.13 EPS for the current fiscal year.

Weatherford International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Wednesday, May 6th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, May 6th. Weatherford International’s dividend payout ratio is presently 17.21%.

Hedge Funds Weigh In On Weatherford International

Hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its position in Weatherford International by 270.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 19,860 shares of the company’s stock valued at $1,359,000 after buying an additional 14,505 shares during the period. William Blair Investment Management LLC boosted its position in Weatherford International by 9.9% in the 3rd quarter. William Blair Investment Management LLC now owns 822,117 shares of the company’s stock valued at $56,257,000 after buying an additional 74,155 shares during the period. Goldman Sachs Group Inc. boosted its position in Weatherford International by 1,040.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,244,464 shares of the company’s stock valued at $97,392,000 after buying an additional 1,135,338 shares during the period. Gotham Asset Management LLC boosted its position in Weatherford International by 80.0% in the 3rd quarter. Gotham Asset Management LLC now owns 785,828 shares of the company’s stock valued at $53,774,000 after buying an additional 349,214 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its position in Weatherford International by 77.6% in the 4th quarter. Deprince Race & Zollo Inc. now owns 537,851 shares of the company’s stock valued at $42,092,000 after buying an additional 234,989 shares during the period. 97.23% of the stock is currently owned by institutional investors.

About Weatherford International

(Get Free Report)

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.

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