Weatherford International PLC (NASDAQ:WFRD) Receives $110.67 Average Target Price from Brokerages

Weatherford International PLC (NASDAQ:WFRD) has earned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $110.6667.

A number of research firms have recently issued reports on WFRD. UBS Group raised their price target on Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Zacks Research upgraded Weatherford International from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Weiss Ratings downgraded Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Wall Street Zen upgraded Weatherford International from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, Royal Bank Of Canada assumed coverage on Weatherford International in a research report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 target price on the stock.

Hedge Funds Weigh In On Weatherford International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi lifted its position in Weatherford International by 89.8% during the first quarter. Amundi now owns 18,869 shares of the company’s stock valued at $1,785,000 after purchasing an additional 8,925 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Weatherford International by 32.8% in the first quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $88,000 after acquiring an additional 231 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Weatherford International by 22.4% in the first quarter. California State Teachers Retirement System now owns 83,567 shares of the company’s stock valued at $7,904,000 after acquiring an additional 15,294 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Weatherford International by 43.8% in the first quarter. Royal Bank of Canada now owns 60,324 shares of the company’s stock valued at $5,705,000 after acquiring an additional 18,384 shares in the last quarter. Finally, Rokos Capital Management LLP bought a new stake in shares of Weatherford International in the first quarter worth about $976,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Stock Performance

WFRD stock opened at $84.84 on Friday. The company has a market cap of $6.10 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82. Weatherford International has a 1 year low of $47.76 and a 1 year high of $113.15. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.31 and a quick ratio of 1.73. The stock’s fifty day moving average price is $102.67 and its 200-day moving average price is $95.38.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. On average, equities analysts forecast that Weatherford International will post 6.13 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Wednesday, May 6th were given a dividend of $0.275 per share. The ex-dividend date was Wednesday, May 6th. This represents a $1.10 annualized dividend and a yield of 1.3%. Weatherford International’s payout ratio is 17.21%.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.