Weatherford International (NASDAQ:WFRD) Stock Price Down 7.3% – Time to Sell?

Weatherford International PLC (NASDAQ:WFRD) traded down 7.3% during trading on Monday . The company traded as low as $47.58 and last traded at $47.33. 510,362 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 1,193,627 shares. The stock had previously closed at $51.04.

Wall Street Analyst Weigh In

Several analysts have weighed in on WFRD shares. Barclays dropped their price objective on shares of Weatherford International from $85.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Piper Sandler dropped their price target on shares of Weatherford International from $80.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Raymond James Financial lowered Weatherford International from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $73.00 to $69.00 in a research note on Thursday, April 24th. Finally, Citigroup reduced their target price on Weatherford International from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.63.

Weatherford International Trading Down 7.7%

The firm has a 50-day moving average of $46.55 and a two-hundred day moving average of $57.39. The firm has a market capitalization of $3.42 billion, a P/E ratio of 7.54, a P/E/G ratio of 1.45 and a beta of 0.73. The company has a current ratio of 2.08, a quick ratio of 1.52 and a debt-to-equity ratio of 1.16.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.21 billion. Weatherford International had a net margin of 8.79% and a return on equity of 35.88%. On average, analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. Weatherford International’s dividend payout ratio (DPR) is presently 16.00%.

Insider Activity at Weatherford International

In other news, Director Neal P. Goldman bought 12,000 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the completion of the acquisition, the director now directly owns 25,311 shares in the company, valued at approximately $1,064,074.44. This represents a 90.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds have recently added to or reduced their stakes in WFRD. Capital Research Global Investors boosted its holdings in Weatherford International by 295.9% in the fourth quarter. Capital Research Global Investors now owns 5,945,755 shares of the company’s stock worth $425,894,000 after acquiring an additional 4,443,823 shares in the last quarter. Invesco Ltd. bought a new position in shares of Weatherford International in the fourth quarter valued at $104,287,000. Norges Bank acquired a new position in shares of Weatherford International during the fourth quarter valued at about $65,678,000. Millennium Management LLC increased its holdings in Weatherford International by 429.2% during the 1st quarter. Millennium Management LLC now owns 1,103,067 shares of the company’s stock worth $59,069,000 after purchasing an additional 894,636 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in Weatherford International by 181.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company’s stock valued at $93,334,000 after buying an additional 840,456 shares during the last quarter. 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.