Weatherford International (NASDAQ:WFRD) Director Sells $516,540.00 in Stock

Weatherford International PLC (NASDAQ:WFRD) Director Benjamin Duster sold 6,000 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $86.09, for a total value of $516,540.00. Following the sale, the director owned 11,187 shares in the company, valued at approximately $963,088.83. This trade represents a 34.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Weatherford International Price Performance

WFRD traded down $0.37 during trading on Tuesday, hitting $85.55. The company’s stock had a trading volume of 224,251 shares, compared to its average volume of 1,347,560. The company has a quick ratio of 1.77, a current ratio of 2.34 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 1.12 and a beta of 0.86. The firm’s 50 day moving average price is $92.75 and its two-hundred day moving average price is $95.87. Weatherford International PLC has a 12 month low of $52.70 and a 12 month high of $113.15.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $1.87 earnings per share. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. Sell-side analysts forecast that Weatherford International PLC will post 5.42 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

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

Institutional Investors Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently modified their holdings of WFRD. TD Private Client Wealth LLC boosted its stake in Weatherford International by 4.2% in the fourth quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock valued at $252,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Weatherford International by 24.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock valued at $55,000 after acquiring an additional 137 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Weatherford International by 3.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock valued at $385,000 after purchasing an additional 146 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Weatherford International by 4.1% in the 1st 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 period. Finally, CWM LLC boosted its position in shares of Weatherford International by 2.3% in the 4th quarter. CWM LLC now owns 7,711 shares of the company’s stock worth $603,000 after purchasing an additional 170 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

WFRD has been the topic of a number of research reports. Piper Sandler upped their target price on shares of Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. UBS Group boosted their price objective on shares of Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Zacks Research downgraded Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Raymond James Financial decreased their price objective on Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Finally, Wall Street Zen cut Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.44.

About Weatherford International

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.