Weatherford International plc (NASDAQ:WFRD) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Weatherford International plc (NASDAQ:WFRD) have been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $121.25.

A number of equities research analysts recently issued reports on the company. Piper Sandler assumed coverage on Weatherford International in a research report on Thursday, December 19th. They set a “neutral” rating and a $87.00 price target on the stock. Benchmark reissued a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Thursday, October 24th. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Evercore ISI reduced their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Bank of America reduced their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th.

Weatherford International Price Performance

Weatherford International stock opened at $70.24 on Friday. Weatherford International has a 12 month low of $66.23 and a 12 month high of $135.00. The stock’s 50 day moving average is $77.31 and its 200-day moving average is $93.13. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 0.56 and a beta of 0.64.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the business earned $1.66 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts expect that Weatherford International will post 6.77 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the transaction, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This represents a 35.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the executive vice president now owns 11,109 shares of the company’s stock, valued at $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after purchasing an additional 281 shares during the last quarter. nVerses Capital LLC bought a new position in Weatherford International during the 3rd quarter worth $34,000. Millburn Ridgefield Corp bought a new position in Weatherford International during the 3rd quarter worth $42,000. GAMMA Investing LLC raised its position in Weatherford International by 36.9% during the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after purchasing an additional 141 shares during the last quarter. Finally, Park Place Capital Corp raised its position in Weatherford International by 1,516.2% during the 3rd quarter. Park Place Capital Corp now owns 598 shares of the company’s stock worth $51,000 after purchasing an additional 561 shares during the last quarter. 97.23% of the stock is 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.