Weatherford International PLC (NASDAQ:WFRD) Short Interest Up 117.9% in February

Weatherford International PLC (NASDAQ:WFRD) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 4,744,682 shares, a growth of 117.9% from the February 12th total of 2,177,275 shares. Based on an average daily trading volume, of 836,433 shares, the days-to-cover ratio is presently 5.7 days. Approximately 6.7% of the shares of the company are short sold. Approximately 6.7% of the shares of the company are short sold. Based on an average daily trading volume, of 836,433 shares, the days-to-cover ratio is presently 5.7 days.

Weatherford International Stock Performance

Shares of WFRD stock opened at $85.12 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.65 and a debt-to-equity ratio of 0.86. Weatherford International has a 12-month low of $36.74 and a 12-month high of $110.57. The business’s 50 day moving average is $94.91 and its two-hundred day moving average is $78.86. The company has a market capitalization of $6.10 billion, a P/E ratio of 14.35 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.49. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.The business’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.50 earnings per share. Analysts expect that Weatherford International will post 5.89 EPS for the current fiscal year.

Weatherford International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 6th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, February 6th. This is a boost from Weatherford International’s previous quarterly dividend of $0.25. Weatherford International’s payout ratio is presently 18.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, January 21st. Citigroup lifted their target price on shares of Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 13th. Barclays decreased their target price on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. UBS Group increased their price target on shares of Weatherford International from $82.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Wall Street Zen upgraded shares of Weatherford International from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.50.

Insider Activity at Weatherford International

In related news, CEO Girish Saligram sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $105.50, for a total transaction of $10,550,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in shares of Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Weatherford International during the 4th quarter worth about $26,000. Quent Capital LLC acquired a new position in shares of Weatherford International during the 3rd quarter worth about $26,000. Leonteq Securities AG purchased a new position in Weatherford International in the 4th quarter valued at about $39,000. Finally, Sound Income Strategies LLC acquired a new stake in Weatherford International in the 3rd quarter worth about $35,000. 97.23% of the stock is owned by hedge funds and other 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.