Weatherford International (NASDAQ:WFRD) Hits New 52-Week Low – Here’s What Happened

Shares of Weatherford International plc (NASDAQ:WFRD) hit a new 52-week low during trading on Thursday . The company traded as low as $46.30 and last traded at $46.79, with a volume of 562070 shares trading hands. The stock had previously closed at $54.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WFRD shares. Barclays dropped their target price on shares of Weatherford International from $92.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Benchmark cut their price objective on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Citigroup decreased their target price on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and cut their price target for the company from $132.00 to $98.00 in a report on Friday, December 13th. Finally, Piper Sandler decreased their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.75.

Weatherford International Price Performance

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 company’s fifty day moving average price is $59.85 and its 200 day moving average price is $73.55. The company has a market capitalization of $2.90 billion, a P/E ratio of 5.92, a PEG ratio of 1.65 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Weatherford International plc will post 5.89 EPS for the current year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. Weatherford International’s payout ratio is 14.88%.

Insider Activity

In other news, EVP Scott C. Weatherholt sold 44,505 shares of Weatherford International stock in a transaction on 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 owns 125,019 shares in the company, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David John Reed sold 4,762 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $72.66, for a total value of $346,006.92. Following the sale, the executive vice president now owns 11,109 shares of the company’s stock, valued at approximately $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,692 shares of company stock worth $6,207,725. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Weatherford International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC increased its holdings in Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after purchasing an additional 204 shares in the last quarter. Huntington National Bank increased its stake 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 buying an additional 257 shares during the period. Zions Bancorporation N.A. bought a new position in Weatherford International in the 4th quarter valued at approximately $29,000. R Squared Ltd acquired a new stake in Weatherford International during the 4th quarter worth approximately $36,000. Finally, Covestor Ltd boosted its position in Weatherford International by 30.1% during the 4th quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $66,000 after buying an additional 214 shares during the period. Institutional investors own 97.23% of the company’s stock.

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.