Brokerages Set Weatherford International plc (NASDAQ:WFRD) Target Price at $140.50

Shares of Weatherford International plc (NASDAQ:WFRD) have been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the firm, Marketbeat reports. Two investment 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. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $121.25.

A number of research firms recently weighed in on WFRD. Citigroup decreased their price objective on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday. Bank of America lowered their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays decreased their target price on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Evercore ISI dropped their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research report on Thursday, October 24th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently made changes to their positions in WFRD. CWM LLC increased its holdings in Weatherford International by 74.1% during the 2nd quarter. CWM LLC now owns 552 shares of the company’s stock worth $68,000 after purchasing an additional 235 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Weatherford International by 238.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,040 shares of the company’s stock worth $740,000 after buying an additional 4,254 shares in the last quarter. Raymond James & Associates raised its position in Weatherford International by 25.7% in the 2nd quarter. Raymond James & Associates now owns 97,101 shares of the company’s stock valued at $11,890,000 after buying an additional 19,853 shares during the last quarter. Fifth Third Bancorp lifted its stake in Weatherford International by 31.0% during 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 in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Weatherford International during the 2nd quarter worth $253,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Price Performance

Weatherford International stock opened at $67.10 on Monday. The stock has a 50-day moving average price of $81.97 and a two-hundred day moving average price of $98.84. Weatherford International has a 12 month low of $66.23 and a 12 month high of $135.00. The company has a market capitalization of $4.87 billion, a PE ratio of 9.42, a P/E/G ratio of 0.64 and a beta of 0.58. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $1.66 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts expect that Weatherford International will post 6.85 EPS for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.49%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

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.