Weatherford International (NASDAQ:WFRD) Reaches New 1-Year Low - Here's Why

Weatherford International plc (NASDAQ:WFRD - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $59.12 and last traded at $59.44, with a volume of 383849 shares changing hands. The stock had previously closed at $61.91.

Analyst Ratings Changes

A number of analysts have recently commented on WFRD shares. Benchmark dropped their price objective on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Raymond James dropped their price target on shares of Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating on the stock in a research report on Friday, February 7th. Citigroup cut their price target on shares of Weatherford International from $110.00 to $95.00 and set a "buy" rating for the company in a report on Friday, December 20th. Barclays lowered their price objective on shares of Weatherford International from $100.00 to $92.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler reduced their target price on shares of Weatherford International from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Weatherford International currently has an average rating of "Moderate Buy" and an average target price of $107.63.

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Weatherford International Stock Performance

The firm's 50-day moving average price is $67.81 and its two-hundred day moving average price is $80.33. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $4.09 billion, a PE ratio of 8.35, a P/E/G ratio of 1.65 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. As a group, research analysts predict that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, February 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, February 21st. Weatherford International's dividend payout ratio is currently 14.88%.

Insider Activity at Weatherford International

In other news, EVP David John Reed sold 4,762 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total transaction of $346,006.92. Following the transaction, the executive vice president now owns 11,109 shares in the company, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Desmond J. Mills sold 19,425 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the completion of the sale, the chief accounting officer now owns 17,899 shares of the company's stock, valued at $1,208,361.49. This represents a 52.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,692 shares of company stock valued at $6,207,725. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Weatherford International

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of Weatherford International during the 3rd quarter valued at about $571,000. New York Life Investment Management LLC acquired a new position in Weatherford International during the fourth quarter valued at approximately $546,000. Barclays PLC raised its position in shares of Weatherford International by 59.4% in the third quarter. Barclays PLC now owns 31,349 shares of the company's stock valued at $2,663,000 after purchasing an additional 11,680 shares during the period. Dynamic Technology Lab Private Ltd lifted its stake in shares of Weatherford International by 1,138.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company's stock worth $2,728,000 after buying an additional 29,530 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Weatherford International by 643.0% during the 4th quarter. Blue Trust Inc. now owns 1,278 shares of the company's stock worth $92,000 after buying an additional 1,106 shares during the period. 97.23% of the stock is currently owned by institutional investors.

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.