Weatherford International (NASDAQ:WFRD) Sets New 1-Year High – Here’s What Happened

Shares of Weatherford International PLC (NASDAQ:WFRD) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $112.70 and last traded at $112.27, with a volume of 232953 shares traded. The stock had previously closed at $108.83.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WFRD shares. Weiss Ratings lowered Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. UBS Group lifted their target price on Weatherford International from $105.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Citigroup boosted their target price on Weatherford International from $115.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, May 4th. The Goldman Sachs Group raised their price target on shares of Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Finally, Wall Street Zen downgraded shares of Weatherford International from a “buy” rating to a “hold” rating in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.33.

Weatherford International Trading Down 1.9%

The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. The company has a market cap of $7.86 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.29 and a beta of 0.87. The business’s 50-day moving average price is $99.20 and its 200 day moving average price is $90.32.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.47. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. As a group, analysts expect that Weatherford International PLC will post 6.13 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Wednesday, May 6th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 6th. Weatherford International’s payout ratio is 17.21%.

Hedge Funds Weigh In On Weatherford International

Large investors have recently modified their holdings of the stock. TD Private Client Wealth LLC grew its stake in Weatherford International by 4.2% in the 4th quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock valued at $252,000 after buying an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Weatherford International by 24.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock worth $55,000 after acquiring an additional 137 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Weatherford International by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock worth $385,000 after acquiring an additional 146 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Weatherford International by 4.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,851 shares of the company’s stock valued at $364,000 after purchasing an additional 151 shares during the last quarter. Finally, CWM LLC grew its position in shares of Weatherford International by 2.3% in the fourth quarter. CWM LLC now owns 7,711 shares of the company’s stock valued at $603,000 after purchasing an additional 170 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

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.