Key Points
- Director sale: Weatherford International Director Neal Goldman sold 16,000 shares for approximately $1.36 million, reducing his direct holdings by 56.76% to 12,187 shares.
- Quarterly results: The company reported earnings of $0.55 per share, missing estimates of $0.90, while revenue of $1.10 billion exceeded expectations. Revenue declined 8.2% year over year.
- Outlook and dividend: Analysts maintain a “Moderate Buy” consensus with an average price target of $113.44, and Weatherford declared a quarterly dividend of $0.275 per share, yielding about 1.3% annually.
Weatherford International PLC (NASDAQ:WFRD - Get Free Report) Director Benjamin Duster sold 6,000 shares of the firm's stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $86.09, for a total value of $516,540.00. Following the sale, the director directly owned 11,187 shares of the company's stock, valued at $963,088.83. The trade was a 34.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Weatherford International Trading Down 2.7%
NASDAQ WFRD opened at $83.58 on Wednesday. The firm's 50-day moving average is $92.23 and its two-hundred day moving average is $95.85. Weatherford International PLC has a 12 month low of $52.70 and a 12 month high of $113.15. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.34 and a quick ratio of 1.77. The stock has a market capitalization of $5.99 billion, a P/E ratio of 16.49, a PEG ratio of 1.10 and a beta of 0.86.
Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.35). Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the business earned $1.87 EPS. The company's quarterly revenue was down 8.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Weatherford International PLC will post 5.35 earnings per share for the current year.
Weatherford International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, August 6th. Weatherford International's dividend payout ratio is currently 21.70%.
Hedge Funds Weigh In On Weatherford International
Several institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its position in shares of Weatherford International by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company's stock worth $25,000 after acquiring an additional 178 shares during the period. Los Angeles Capital Management LLC purchased a new position in Weatherford International in the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC grew 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 worth $28,000 after purchasing an additional 253 shares in the last quarter. Leonteq Securities AG acquired a new position in Weatherford International during the 4th quarter worth $39,000. Finally, Johnson Financial Group Inc. purchased a new stake in Weatherford International during the 3rd quarter worth about $52,000. Institutional investors and hedge funds own 97.23% of the company's stock.
Analysts Set New Price Targets
WFRD has been the subject of several research reports. UBS Group lifted their target price on shares of Weatherford International from $105.00 to $113.00 and gave the company a "neutral" rating in a report on Thursday, April 23rd. Citigroup decreased their price target on Weatherford International from $137.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Weiss Ratings lowered Weatherford International from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. Barclays dropped their price objective on Weatherford International from $154.00 to $151.00 and set an "overweight" rating for the company in a research note on Friday, July 24th. Finally, Wall Street Zen downgraded Weatherford International from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.44.
Check Out Our Latest Stock Report on WFRD
About Weatherford International
(
Get Free Report)
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.
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