Weatherford International (NASDAQ:WFRD) Shares Up 5% - Here's Why

Shares of Weatherford International plc (NASDAQ:WFRD - Get Free Report) traded up 5% during mid-day trading on Wednesday . The company traded as high as $57.88 and last traded at $57.55. 183,422 shares changed hands during trading, a decline of 81% from the average session volume of 990,472 shares. The stock had previously closed at $54.82.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WFRD shares. Benchmark lowered their price target on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Raymond James dropped their price target on Weatherford International from $107.00 to $97.00 and set a "strong-buy" rating for the company in a research report on Friday, February 7th. Barclays decreased 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 report on Thursday, February 13th. The Goldman Sachs Group lowered Weatherford International from a "buy" rating to a "neutral" rating and reduced their target price for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Finally, Piper Sandler dropped their price target on Weatherford International from $87.00 to $82.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Two equities research 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.com, Weatherford International has a consensus rating of "Moderate Buy" and an average price target of $107.63.

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Weatherford International Price Performance

The company has a 50-day moving average of $62.09 and a two-hundred day moving average of $74.88. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. The stock has a market capitalization of $3.87 billion, a PE ratio of 7.90, a P/E/G ratio of 1.65 and a beta of 0.61.

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

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors 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 1.88%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International's payout ratio is currently 14.88%.

Insiders Place Their Bets

In other Weatherford International news, EVP Scott C. Weatherholt sold 44,505 shares of the firm's stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total value of $2,944,895.85. Following the transaction, the executive vice president now directly owns 125,019 shares of the company's stock, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Arunava Mitra sold 10,000 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.57, for a total value of $675,700.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 92,692 shares of company stock worth $6,207,725 over the last three months. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently bought and sold shares of WFRD. Lindbrook Capital LLC raised its stake in shares of Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock valued at $26,000 after purchasing an additional 204 shares during the period. Huntington National Bank lifted its holdings in Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company's stock worth $28,000 after buying an additional 257 shares in the last quarter. Zions Bancorporation N.A. purchased a new position in Weatherford International in the 4th quarter valued at about $29,000. R Squared Ltd acquired a new stake in shares of Weatherford International during the fourth quarter valued at about $36,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Weatherford International during the third quarter worth about $42,000. 97.23% of the stock is owned by institutional investors and hedge funds.

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.