Short Interest in Weatherford International PLC (NASDAQ:WFRD) Grows By 117.9%

Weatherford International PLC (NASDAQ:WFRD) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 4,744,682 shares, a growth of 117.9% from the February 12th total of 2,177,275 shares. Currently, 6.7% of the company’s stock are sold short. Based on an average trading volume of 836,433 shares, the days-to-cover ratio is presently 5.7 days. Based on an average trading volume of 836,433 shares, the days-to-cover ratio is presently 5.7 days. Currently, 6.7% of the company’s stock are sold short.

Weatherford International Stock Performance

Shares of WFRD opened at $92.69 on Thursday. The company has a market capitalization of $6.65 billion, a PE ratio of 15.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.19 and a quick ratio of 1.65. Weatherford International has a one year low of $36.74 and a one year high of $110.57. The company’s fifty day moving average price is $94.77 and its 200 day moving average price is $78.81.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.49. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Weatherford International had a net margin of 8.76% and a return on equity of 28.07%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 earnings per share. As a group, analysts expect that Weatherford International will post 5.89 earnings per share for the current year.

Weatherford International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 6th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, February 6th. This is a positive change from Weatherford International’s previous quarterly dividend of $0.25. Weatherford International’s dividend payout ratio is currently 18.55%.

Wall Street Analyst Weigh In

WFRD has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, January 21st. Barclays reduced their price target on Weatherford International from $111.00 to $109.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. The Goldman Sachs Group increased their price objective on Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. Citigroup raised their price objective on Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Zacks Research lowered Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 14th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.50.

Insider Buying and Selling

In other news, CEO Girish Saligram sold 100,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $105.50, for a total transaction of $10,550,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WFRD. Smartleaf Asset Management LLC boosted its position in shares of Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after acquiring an additional 178 shares during the period. Quent Capital LLC bought a new position in Weatherford International during the third quarter worth $26,000. Los Angeles Capital Management LLC bought a new position in Weatherford International during the fourth quarter worth $26,000. Elevation Point Wealth Partners LLC acquired a new position in Weatherford International during the 2nd quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC raised its stake in Weatherford International by 83.5% during the 2nd 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. 97.23% of the stock is owned by institutional investors.

Weatherford International Company Profile

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.