Weatherford International (NASDAQ:WFRD) Trading Down 3.8% – Here’s What Happened

by · The Cerbat Gem

Weatherford International PLC (NASDAQ:WFRD – Get Free Report)’s share price traded down 3.8% during trading on Tuesday . The stock traded as low as $74.50 and last traded at $73.81. 69,146 shares traded hands during trading, a decline of 94% from the average session volume of 1,167,213 shares. The stock had previously closed at $76.71.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WFRD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, October 8th. BMO Capital Markets began coverage on shares of Weatherford International in a research report on Friday, October 10th. They issued an “outperform” rating and a $82.00 price target on the stock. UBS Group started coverage on Weatherford International in a research note on Tuesday. They set a “neutral” rating and a $82.00 price objective on the stock. Melius Research began coverage on Weatherford International in a research note on Wednesday, August 20th. They issued a “buy” rating and a $108.00 target price for the company. Finally, Piper Sandler raised their price target on Weatherford International from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.90.

Get Our Latest Stock Report on WFRD

Weatherford International Price Performance

The business has a fifty day moving average of $69.65 and a two-hundred day moving average of $60.15. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.84 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.55 and a current ratio of 2.07.

Weatherford International (NASDAQ:WFRD – Get Free Report) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). Weatherford International had a return on equity of 28.28% and a net margin of 8.15%.The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $2.06 EPS. The company’s revenue was down 12.6% on a year-over-year basis. As a group, research analysts predict that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.00 annualized dividend and a yield of 1.3%. Weatherford International’s payout ratio is presently 18.12%.

Institutional Investors Weigh In On Weatherford International

Hedge funds have recently modified their holdings of the company. Penn Capital Management Company LLC grew its holdings in shares of Weatherford International by 8.1% during the third quarter. Penn Capital Management Company LLC now owns 324,992 shares of the company’s stock worth $22,297,000 after purchasing an additional 24,240 shares during the last quarter. Advisory Services Network LLC raised its holdings in Weatherford International by 11.5% in the 3rd quarter. Advisory Services Network LLC now owns 17,652 shares of the company’s stock valued at $1,208,000 after buying an additional 1,825 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in Weatherford International by 106.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 472,814 shares of the company’s stock worth $32,355,000 after buying an additional 244,305 shares during the period. Utah Retirement Systems bought a new stake in Weatherford International during the 3rd quarter worth approximately $260,000. Finally, Verition Fund Management LLC grew its holdings in Weatherford International by 19.0% during the 3rd quarter. Verition Fund Management LLC now owns 13,402 shares of the company’s stock worth $917,000 after acquiring an additional 2,142 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Company Profile

(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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