Weatherford International (NASDAQ:WFRD) Reaches New 52-Week Low on Analyst Downgrade

Weatherford International plc (NASDAQ:WFRD)’s stock price reached a new 52-week low on Tuesday after Citigroup lowered their price target on the stock from $115.00 to $110.00. Citigroup currently has a buy rating on the stock. Weatherford International traded as low as $76.39 and last traded at $76.77, with a volume of 58640 shares changing hands. The stock had previously closed at $77.63.

Several other analysts have also recently commented on the stock. Evercore ISI decreased their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America dropped their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Barclays dropped their price target on shares of 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, Benchmark restated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research note on Thursday, October 24th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Weatherford International has an average rating of “Buy” and an average target price of $146.57.

Insider Activity

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the company’s 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 transaction, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This represents a 35.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in 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 period. Fifth Third Bancorp raised its position in shares of Weatherford International by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after acquiring an additional 85 shares during the period. nVerses Capital LLC acquired a new stake in shares of Weatherford International in the 3rd quarter valued at approximately $34,000. Millburn Ridgefield Corp acquired a new stake in shares of Weatherford International in the 3rd quarter valued at approximately $42,000. Finally, GAMMA Investing LLC raised its position in shares of Weatherford International by 36.9% in the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $44,000 after acquiring an additional 141 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Stock Up 4.9 %

The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 0.65 and a beta of 0.58. The business’s 50-day moving average is $84.76 and its two-hundred day moving average is $101.04. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.65 by $0.41. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $1.66 EPS. On average, equities analysts anticipate that Weatherford International plc will post 6.85 earnings per share for the current year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. Weatherford International’s dividend payout ratio is currently 14.04%.

Weatherford International Company Profile

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.