Weatherford International plc (NASDAQ:WFRD) Given Average Rating of “Buy” by Analysts

Weatherford International plc (NASDAQ:WFRD) has been assigned an average recommendation of “Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $153.88.

WFRD has been the subject of a number of analyst reports. Evercore ISI upped their price target on Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Raymond James lowered their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. Bank of America lifted their target price on Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Piper Sandler raised their price objective on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Citigroup started coverage on Weatherford International in a research report on Tuesday, May 14th. They issued a “buy” rating and a $155.00 target price on the stock.

Institutional Trading of Weatherford International

Several institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in shares of Weatherford International in the 2nd quarter valued at about $10,535,000. B. Riley Wealth Advisors Inc. lifted its holdings in Weatherford International by 4.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 5,293 shares of the company’s stock worth $648,000 after acquiring an additional 210 shares during the last quarter. Wallace Advisory Group LLC bought a new position in shares of Weatherford International during the second quarter valued at approximately $244,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Weatherford International by 12.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,032 shares of the company’s stock worth $861,000 after purchasing an additional 780 shares during the period. Finally, Creative Planning boosted its position in Weatherford International by 12.2% during the 2nd quarter. Creative Planning now owns 10,312 shares of the company’s stock valued at $1,263,000 after purchasing an additional 1,120 shares during the period. Institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Up 0.4 %

Shares of WFRD stock opened at $108.09 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. Weatherford International has a fifty-two week low of $82.16 and a fifty-two week high of $135.00. The firm’s 50 day moving average price is $117.72 and its two-hundred day moving average price is $115.09. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.77 and a beta of 0.63.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts anticipate that Weatherford International will post 6.82 EPS for the current year.

Weatherford International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Tuesday, August 13th. Weatherford International’s dividend payout ratio is currently 16.18%.

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.