Weatherford International (NASDAQ:WFRD) Research Coverage Started at Melius

Melius initiated coverage on shares of Weatherford International (NASDAQ:WFRD) in a report released on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $108.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on WFRD. Citigroup reduced their target price on shares of Weatherford International from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Raymond James Financial reissued an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Piper Sandler raised shares of Weatherford International from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $62.00 to $73.00 in a research report on Monday, July 28th. Finally, Barclays reduced their target price on shares of Weatherford International from $77.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.70.

Weatherford International Price Performance

NASDAQ:WFRD opened at $60.83 on Wednesday. Weatherford International has a one year low of $36.74 and a one year high of $111.23. The company has a market cap of $4.37 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.66 and a beta of 0.77. The firm’s fifty day moving average price is $54.69 and its two-hundred day moving average price is $52.65. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. Weatherford International’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.66 earnings per share. Equities analysts expect that Weatherford International will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. Weatherford International’s dividend payout ratio is 15.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Weatherford International by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company’s stock worth $431,104,000 after acquiring an additional 347,584 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Weatherford International by 7.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,402,833 shares of the company’s stock worth $315,375,000 after acquiring an additional 298,811 shares during the last quarter. Holocene Advisors LP lifted its holdings in shares of Weatherford International by 712.8% in the second 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 during the last quarter. Invesco Ltd. lifted its holdings in shares of Weatherford International by 2.0% in the first quarter. Invesco Ltd. now owns 1,485,746 shares of the company’s stock worth $79,562,000 after acquiring an additional 29,840 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Weatherford International by 13.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,474,131 shares of the company’s stock worth $78,940,000 after acquiring an additional 171,124 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

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.