Weatherford International (NASDAQ:WFRD) Director Neal Goldman Sells 16,000 Shares

Weatherford International PLC (NASDAQ:WFRD) Director Neal Goldman sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $84.84, for a total transaction of $1,357,440.00. Following the transaction, the director owned 12,187 shares of the company’s stock, valued at approximately $1,033,945.08. This represents a 56.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Weatherford International Trading Down 2.7%

WFRD opened at $83.58 on Wednesday. The firm’s fifty day moving average is $92.23 and its two-hundred day moving average is $95.85. The firm has a market cap of $5.99 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.10 and a beta of 0.86. Weatherford International PLC has a twelve month low of $52.70 and a twelve month high of $113.15. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.77 and a current ratio of 2.34.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.35). Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $1.87 EPS. Weatherford International’s quarterly revenue was down 8.2% on a year-over-year basis. Equities research analysts anticipate that Weatherford International PLC will post 5.35 EPS for the current year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 6th. Weatherford International’s payout ratio is presently 21.70%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WFRD shares. Barclays cut their price objective on Weatherford International from $154.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Raymond James Financial lowered their target price on Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Zacks Research downgraded shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, Piper Sandler upped their price target on shares of Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Weatherford International currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.44.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds and other institutional investors have recently bought and sold shares of WFRD. Holocene Advisors LP grew its stake in shares of Weatherford International by 712.8% during the 2nd quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock worth $82,812,000 after acquiring an additional 1,443,512 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Weatherford International by 1,040.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,244,464 shares of the company’s stock worth $97,392,000 after purchasing an additional 1,135,338 shares in the last quarter. Norges Bank acquired a new position in Weatherford International during the fourth quarter worth $61,399,000. Barclays PLC boosted its holdings in Weatherford International by 1,096.6% during the fourth quarter. Barclays PLC now owns 855,752 shares of the company’s stock worth $66,971,000 after purchasing an additional 784,237 shares during the last quarter. Finally, Millennium Management LLC grew its position in Weatherford International by 154.3% in the third quarter. Millennium Management LLC now owns 1,159,192 shares of the company’s stock valued at $79,324,000 after purchasing an additional 703,401 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

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.