Read Weatherford International (NASDAQ:WFRD) Now Covered by Analysts at Melius Research at ETF Daily News
Melius Research assumed coverage on shares of Weatherford International (NASDAQ:WFRD – Free Report) in a research report released on Wednesday morning,Benzinga reports. The firm issued a buy rating and a $108.00 price objective on the stock.
Several other research firms also recently weighed in on WFRD. Citigroup reduced their target price on Weatherford International from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Piper Sandler upgraded Weatherford International from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Raymond James Financial reiterated an “outperform” rating and set a $70.00 target price (up from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Barclays reduced their target price on Weatherford International from $77.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, July 24th. Finally, Melius assumed coverage on Weatherford International in a research report on Wednesday. They set a “buy” rating and a $108.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Weatherford International has an average rating of “Moderate Buy” and an average target price of $99.70.
Check Out Our Latest Analysis on WFRD
Weatherford International Stock Performance
Weatherford International (NASDAQ:WFRD – Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%.The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted $1.66 earnings per share. The firm’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, research analysts predict that Weatherford International will post 5.89 earnings per share for the current year.
Weatherford International Announces Dividend
The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, August 6th. Weatherford International’s dividend payout ratio (DPR) is 15.48%.
Institutional Investors Weigh In On Weatherford International
A number of large investors have recently modified their holdings of WFRD. Raymond James Financial Inc. acquired a new stake in shares of Weatherford International in the fourth quarter valued at about $7,215,000. Barclays PLC grew its stake in shares of Weatherford International by 83.3% in the fourth quarter. Barclays PLC now owns 57,454 shares of the company’s stock valued at $4,114,000 after buying an additional 26,105 shares in the last quarter. Mariner LLC grew its stake in shares of Weatherford International by 95.1% in the fourth quarter. Mariner LLC now owns 8,707 shares of the company’s stock valued at $624,000 after buying an additional 4,245 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Weatherford International by 7.4% in the fourth quarter. MetLife Investment Management LLC now owns 44,124 shares of the company’s stock valued at $3,161,000 after buying an additional 3,047 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Weatherford International by 282.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,556 shares of the company’s stock valued at $684,000 after buying an additional 7,055 shares in the last quarter. Institutional investors and hedge funds 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.
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