Weatherford International (NASDAQ:WFRD) Shares Down 13.9% – Here’s What Happened

Weatherford International plc (NASDAQ:WFRD) shares were down 13.9% during trading on Friday . The stock traded as low as $39.78 and last traded at $39.09. Approximately 96,801 shares were traded during trading, a decline of 91% from the average daily volume of 1,026,592 shares. The stock had previously closed at $45.41.

Wall Street Analysts Forecast Growth

WFRD has been the subject of several recent analyst reports. The Goldman Sachs Group cut Weatherford International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Barclays lowered their target price on shares of Weatherford International from $92.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Citigroup reduced their price target on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Piper Sandler lowered their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Finally, Benchmark cut their target price on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Weatherford International has a consensus rating of “Moderate Buy” and a consensus price target of $106.75.

Weatherford International Price Performance

The company has a market capitalization of $2.90 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 1.65 and a beta of 0.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. The firm’s 50-day moving average is $59.85 and its 200-day moving average is $73.41.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. Analysts predict that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, February 21st. Weatherford International’s dividend payout ratio (DPR) is currently 14.88%.

Insider Transactions at Weatherford International

In other news, EVP David John Reed sold 4,762 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the sale, the executive vice president now directly owns 11,109 shares of the company’s stock, valued at $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott C. Weatherholt sold 44,505 shares of Weatherford International stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 92,692 shares of company stock valued at $6,207,725 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Weatherford International in the 3rd quarter worth $571,000. New York Life Investment Management LLC bought a new position in Weatherford International during the fourth quarter valued at approximately $546,000. Amundi grew its holdings in Weatherford International by 154.7% during the 4th quarter. Amundi now owns 38,993 shares of the company’s stock valued at $2,813,000 after buying an additional 23,685 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Weatherford International by 9.5% during the 4th quarter. William Blair Investment Management LLC now owns 500,005 shares of the company’s stock valued at $35,815,000 after buying an additional 43,182 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Weatherford International in the 4th quarter worth approximately $7,215,000. 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.