Weatherford International (NASDAQ:WFRD) Hits New 12-Month High – What’s Next?
by Renee Jackson · The Cerbat GemWeatherford International PLC (NASDAQ:WFRD – Get Free Report)’s stock price reached a new 52-week high on Monday . The company traded as high as $86.95 and last traded at $89.0980, with a volume of 28500 shares trading hands. The stock had previously closed at $80.89.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. UBS Group started coverage on shares of Weatherford International in a research note on Tuesday, December 2nd. They issued a “neutral” rating and a $82.00 target price on the stock. Barclays upped their price objective on shares of Weatherford International from $81.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Zacks Research raised Weatherford International from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Piper Sandler boosted their price target on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.70.
View Our Latest Analysis on WFRD
Weatherford International Price Performance
The business’s 50 day moving average price is $75.55 and its two-hundred day moving average price is $65.29. The stock has a market cap of $6.42 billion, a P/E ratio of 16.14 and a beta of 0.79. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.93.
Weatherford International (NASDAQ:WFRD – Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company earned $2.06 earnings per share. Weatherford International’s quarterly revenue was down 12.6% on a year-over-year basis. As a group, sell-side analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.
Weatherford International Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, November 6th. Weatherford International’s dividend payout ratio is presently 18.12%.
Insider Transactions at Weatherford International
In other Weatherford International news, EVP Kristin Ruzicka sold 2,129 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $77.25, for a total value of $164,465.25. Following the completion of the transaction, the executive vice president owned 15,673 shares in the company, valued at approximately $1,210,739.25. This represents a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.
Institutional Trading of Weatherford International
A number of hedge funds and other institutional investors have recently modified their holdings of WFRD. Quent Capital LLC bought a new position in shares of Weatherford International in the 3rd quarter worth about $26,000. Sound Income Strategies LLC purchased a new stake in Weatherford International in the third quarter worth about $35,000. Elevation Point Wealth Partners LLC bought a new position in shares of Weatherford International during the second quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Weatherford International by 83.5% during the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after purchasing an additional 253 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Weatherford International by 69.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock worth $29,000 after purchasing an additional 240 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.
About Weatherford International
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.