Key Points
- Director Jacqueline Mutschler sold 4,094 Weatherford International shares at an average price of $90.50, generating $370,507. Following the transaction, she retained 29,093 shares, a 12.34% reduction in her position.
- Weatherford reported quarterly EPS of $0.55, missing the $0.90 analyst consensus, while revenue reached $1.10 billion and declined 8.2% year over year. The stock opened at $92.70, down 1.8% in the session.
- The company declared a quarterly dividend of $0.275 per share, equivalent to an annualized $1.10 payout and a 1.2% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $113.56.
Weatherford International PLC (NASDAQ:WFRD - Get Free Report) Director Jacqueline Mutschler sold 4,094 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $90.50, for a total transaction of $370,507.00. Following the completion of the sale, the director owned 29,093 shares of the company's stock, valued at approximately $2,632,916.50. The trade was a 12.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Weatherford International Stock Down 1.8%
WFRD opened at $92.70 on Thursday. 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 firm has a market capitalization of $6.64 billion, a P/E ratio of 18.28, a PEG ratio of 1.58 and a beta of 0.87. Weatherford International PLC has a fifty-two week low of $54.69 and a fifty-two week high of $113.15. The company's 50-day moving average is $88.31 and its 200 day moving average is $96.02.
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 analysts' consensus estimates of $0.90 by ($0.35). The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.07 billion. Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.Weatherford International's quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.87 EPS. Research analysts expect that Weatherford International PLC will post 5.35 earnings per share for the current fiscal year.
Weatherford International Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, August 6th. Weatherford International's payout ratio is presently 21.70%.
Hedge Funds Weigh In On Weatherford International
Several large investors have recently modified their holdings of WFRD. Smartleaf Asset Management LLC boosted its holdings in Weatherford International by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company's stock valued at $25,000 after purchasing an additional 178 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Weatherford International in the fourth quarter worth $26,000. Plato Investment Management Ltd purchased a new stake in shares of Weatherford International in the second quarter worth $38,000. Leonteq Securities AG bought a new stake in Weatherford International during the fourth quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Weatherford International by 83.5% during the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company's stock valued at $28,000 after buying an additional 253 shares during the period. Hedge funds and other institutional investors own 97.23% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on WFRD. Piper Sandler boosted their target price on shares of Weatherford International from $115.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Raymond James Financial decreased their price target on shares of Weatherford International from $125.00 to $122.00 and set an "outperform" rating for the company in a research note on Friday, July 10th. Wall Street Zen cut shares of Weatherford International from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Zacks Research downgraded Weatherford International from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Finally, Citigroup reduced their price objective on Weatherford International from $137.00 to $115.00 and set a "buy" rating for the company in a report on Friday, June 26th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $113.56.
Check Out Our Latest Report on Weatherford International
Weatherford International Company Profile
(
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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