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

Weatherford International PLC (NASDAQ:WFRD) Director Neal Goldman sold 16,000 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $84.84, for a total value of $1,357,440.00. Following the sale, the director directly owned 12,187 shares in the company, valued at $1,033,945.08. This trade represents a 56.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Weatherford International Stock Performance

WFRD stock traded down $0.38 on Tuesday, hitting $85.54. The company’s stock had a trading volume of 198,813 shares, compared to its average volume of 1,347,223. Weatherford International PLC has a 1 year low of $52.70 and a 1 year high of $113.15. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.81. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.12 and a beta of 0.86. The firm has a 50 day moving average of $92.75 and a two-hundred day moving average of $95.87.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.55 EPS 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 firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business earned $1.87 EPS. Weatherford International’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities analysts predict that Weatherford International PLC will post 5.42 EPS for the current fiscal year.

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be issued a $0.275 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. 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 bought and sold shares of WFRD. Smartleaf Asset Management LLC increased its holdings 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 buying an additional 178 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Weatherford International during the fourth quarter valued at $26,000. Leonteq Securities AG acquired a new position in shares of Weatherford International in the fourth quarter worth about $39,000. EverSource Wealth Advisors LLC increased its position in shares of Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after acquiring an additional 253 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Weatherford International in the first quarter worth approximately $53,000. 97.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WFRD. UBS Group increased their price objective on shares of Weatherford International from $105.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Citigroup decreased their target price on shares of Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Piper Sandler boosted their price objective on shares of Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Weiss Ratings cut shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, Zacks Research downgraded Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Seven 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 a consensus rating of “Moderate Buy” and a consensus target price 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.