Weatherford International (NASDAQ:WFRD) Reaches New 12-Month Low - Here's What Happened

Weatherford International plc (NASDAQ:WFRD - Get Free Report)'s stock price reached a new 52-week low on Thursday . The company traded as low as $46.30 and last traded at $46.79, with a volume of 562070 shares changing hands. The stock had previously closed at $54.26.

Wall Street Analyst Weigh In

Several analysts have commented on WFRD shares. Benchmark lowered their target price on shares of Weatherford International from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Piper Sandler reduced their target price on Weatherford International from $87.00 to $82.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Barclays decreased their price target on Weatherford International from $92.00 to $85.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. The Goldman Sachs Group lowered shares of Weatherford International from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $132.00 to $98.00 in a report on Friday, December 13th. Finally, Raymond James lowered their target price on shares of Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating for the company in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Weatherford International currently has an average rating of "Moderate Buy" and an average target price of $106.75.

Weatherford International Stock Performance

The stock's 50 day moving average price is $59.29 and its 200 day moving average price is $72.91. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The firm has a market cap of $2.85 billion, a PE ratio of 5.83, a P/E/G ratio of 1.65 and a beta of 0.70.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results 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 net margin of 9.18% and a return on equity of 40.65%. As a group, equities analysts forecast that Weatherford International plc will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International's dividend payout ratio is presently 14.88%.

Insider Activity at Weatherford International

In other news, CFO Arunava Mitra sold 10,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.57, for a total transaction of $675,700.00. Following the completion of the sale, the chief financial officer now owns 21,072 shares in the company, valued at approximately $1,423,835.04. This represents a 32.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Desmond J. Mills sold 19,425 shares of Weatherford International stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.51, for a total value of $1,311,381.75. Following the transaction, the chief accounting officer now owns 17,899 shares in the company, valued at $1,208,361.49. This represents a 52.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,930 shares of company stock worth $5,861,718 in the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Weatherford International

A number of large investors have recently bought and sold shares of WFRD. Lindbrook Capital LLC lifted its position in shares of Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock worth $26,000 after purchasing an additional 204 shares during the last quarter. Huntington National Bank boosted its position in shares of Weatherford International by 190.4% in the fourth quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after acquiring an additional 257 shares during the period. Zions Bancorporation N.A. bought a new position in Weatherford International during the fourth quarter worth $29,000. R Squared Ltd acquired a new position in Weatherford International during the 4th quarter valued at $36,000. Finally, Covestor Ltd boosted its holdings in Weatherford International by 30.1% in the 4th quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after purchasing an additional 214 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.