Weatherford International (NASDAQ:WFRD) Hits New 12-Month Low – Here’s Why

Weatherford International plc (NASDAQ:WFRD) hit a new 52-week low during trading on Monday . The company traded as low as $75.23 and last traded at $75.80, with a volume of 29965 shares trading hands. The stock had previously closed at $76.09.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WFRD shares. Citigroup decreased their target price on shares of Weatherford International from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Bank of America cut their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Barclays cut their price objective on Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Evercore ISI decreased their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $140.50.

Weatherford International Stock Down 2.9 %

The stock’s 50 day simple moving average is $83.46 and its two-hundred day simple moving average is $99.68. The firm has a market cap of $5.20 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.64 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company earned $1.66 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts forecast that Weatherford International plc will post 6.85 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. Weatherford International’s dividend payout ratio is presently 14.04%.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the transaction, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at $932,764.80. This represents a 35.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Weatherford International

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after purchasing an additional 281 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after buying an additional 85 shares during the period. nVerses Capital LLC purchased a new position in shares of Weatherford International in the 3rd quarter worth approximately $34,000. Millburn Ridgefield Corp purchased a new stake in Weatherford International in the third quarter valued at about $42,000. Finally, GAMMA Investing LLC lifted its stake in shares of Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after buying an additional 141 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

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.