Weatherford International (NASDAQ:WFRD) Shares Gap Down After Analyst Downgrade

Weatherford International plc (NASDAQ:WFRD) gapped down before the market opened on Thursday after Citigroup lowered their price target on the stock from $155.00 to $130.00. The stock had previously closed at $87.12, but opened at $85.13. Citigroup currently has a buy rating on the stock. Weatherford International shares last traded at $84.45, with a volume of 83,409 shares trading hands.

Several other research analysts also recently commented on the company. Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a report on Wednesday, July 24th. Raymond James reduced their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Bank of America boosted their price target on Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Barclays lifted their price objective on Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $150.75.

Insider Activity

In other news, EVP David John Reed sold 6,805 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

A number of institutional investors have recently bought and sold shares of WFRD. Parallel Advisors LLC grew its position in shares of Weatherford International by 189.0% during the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after purchasing an additional 189 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Weatherford International during the first quarter valued at approximately $29,000. Fidelis Capital Partners LLC purchased a new position in shares of Weatherford International during the first quarter valued at approximately $33,000. Rise Advisors LLC purchased a new position in shares of Weatherford International during the first quarter valued at approximately $34,000. Finally, Fifth Third Bancorp boosted its position in shares of Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after buying an additional 85 shares during the period. 97.23% of the stock is owned by institutional investors.

Weatherford International Stock Up 1.3 %

The company has a 50-day simple moving average of $102.98 and a 200-day simple moving average of $113.93. The firm has a market cap of $6.23 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm posted $1.12 EPS. The business’s revenue was up 10.3% on a year-over-year basis. Analysts expect that Weatherford International plc will post 6.81 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Tuesday, August 13th. Weatherford International’s dividend payout ratio (DPR) is 16.18%.

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.