Weatherford International PLC (NASDAQ:WFRD) Given Consensus Rating of “Moderate Buy” by Analysts

Weatherford International PLC (NASDAQ:WFRD) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $99.70.

WFRD has been the topic of several recent research reports. Citigroup cut their price target on Weatherford International from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Melius assumed coverage on shares of Weatherford International in a report on Wednesday. They issued a “buy” rating and a $108.00 target price on the stock. Barclays reduced their price target on shares of Weatherford International from $77.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $70.00 target price (up from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Finally, Piper Sandler raised shares of Weatherford International from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $62.00 to $73.00 in a report on Monday, July 28th.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds have recently made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Weatherford International by 14.2% during the 2nd quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock valued at $75,000 after acquiring an additional 187 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Weatherford International by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 33,245 shares of the company’s stock worth $1,673,000 after acquiring an additional 225 shares during the last quarter. Gradient Investments LLC grew its holdings in shares of Weatherford International by 1.4% in the first quarter. Gradient Investments LLC now owns 16,080 shares of the company’s stock worth $861,000 after purchasing an additional 228 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Weatherford International by 55.8% during the first quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock worth $35,000 after acquiring an additional 231 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 240 shares during the period. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Stock Up 6.1%

Shares of NASDAQ:WFRD opened at $60.83 on Friday. The stock’s 50-day moving average is $54.69 and its 200 day moving average is $52.65. Weatherford International has a 1 year low of $36.74 and a 1 year high of $111.23. The company has a market cap of $4.37 billion, a PE ratio of 9.42, a P/E/G ratio of 1.66 and a beta of 0.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. Weatherford International’s revenue was down 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. Sell-side analysts anticipate that Weatherford International will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 6th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Weatherford International’s dividend payout ratio (DPR) is presently 15.48%.

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.