Weatherford International (NASDAQ:WFRD) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

Shares of Weatherford International PLC (NASDAQ:WFRD) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $84.61 and traded as high as $86.96. Weatherford International shares last traded at $85.50, with a volume of 612,692 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WFRD shares. Weiss Ratings raised shares of Weatherford International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th. The Goldman Sachs Group decreased their target price on shares of Weatherford International from $106.00 to $94.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Citigroup lowered their target price on shares of Weatherford International from $112.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Royal Bank Of Canada lowered their target price on shares of Weatherford International from $124.00 to $123.00 and set an “outperform” rating for the company in a research note on Thursday, October 22nd. Finally, UBS Group cut their price target on shares of Weatherford International from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Weatherford International presently has a consensus rating of “Moderate Buy” and an average price target of $115.57.

Weatherford International Price Performance

The firm’s fifty day moving average price is $84.61 and its 200 day moving average price is $92.86. The firm has a market capitalization of $6.20 billion, a PE ratio of 15.24, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.61.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, October 20th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.33. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Weatherford International had a net margin of 8.64% and a return on equity of 22.39%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. As a group, equities analysts forecast that Weatherford International PLC will post 5.57 earnings per share for the current year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 6th will be paid a dividend of $0.2750 per share. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 6th. Weatherford International’s dividend payout ratio is currently 19.61%.

Hedge Funds Weigh In On Weatherford International

A number of hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in Weatherford International by 72.0% during the 2nd quarter. IFP Advisors Inc now owns 313 shares of the company’s stock worth $26,000 after acquiring an additional 131 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Weatherford International by 40.1% in the 3rd quarter. Bessemer Group Inc. now owns 426 shares of the company’s stock valued at $33,000 after acquiring an additional 122 shares during the last quarter. Plato Investment Management Ltd purchased a new position in Weatherford International in the second quarter valued at approximately $38,000. EverSource Wealth Advisors LLC grew its position in shares of Weatherford International by 32.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $88,000 after buying an additional 231 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Weatherford International by 65.2% during the third quarter. Signaturefd LLC now owns 1,786 shares of the company’s stock worth $141,000 after purchasing an additional 705 shares in the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Company Profile

Weatherford International plc is an energy services company that provides equipment, technology and services to oil and natural gas operators. Its offerings support multiple stages of the well lifecycle, including drilling and construction, formation evaluation, completion, production and well intervention.

The company’s products and services include artificial-lift systems, drilling and well-construction technologies, completion tools, production optimization, and digital solutions for monitoring and managing operations.