Weatherford International (NASDAQ:WFRD) Hits New 1-Year Low – What’s Next?

Shares of Weatherford International plc (NASDAQ:WFRD) reached a new 52-week low on Tuesday . The stock traded as low as $66.03 and last traded at $65.67, with a volume of 274261 shares traded. The stock had previously closed at $68.86.

Analyst Ratings Changes

WFRD has been the topic of several recent analyst reports. Evercore ISI dropped their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays dropped their target price on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Citigroup reduced their price target on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Piper Sandler started coverage on Weatherford International in a report on Thursday, December 19th. They set a “neutral” rating and a $87.00 price objective on the stock. Finally, Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Weatherford International currently has an average rating of “Moderate Buy” and a consensus price target of $121.25.

Weatherford International Stock Down 3.9 %

The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The firm’s 50 day moving average price is $74.95 and its two-hundred day moving average price is $90.00. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 1.52 and a beta of 0.64.

Insiders Place Their Bets

In other news, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the sale, the executive vice president now owns 11,109 shares in the company, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Weatherford International in the 3rd quarter valued at approximately $571,000. Barclays PLC boosted its stake in shares of Weatherford International by 59.4% in the third quarter. Barclays PLC now owns 31,349 shares of the company’s stock valued at $2,663,000 after buying an additional 11,680 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Weatherford International by 1,138.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company’s stock worth $2,728,000 after acquiring an additional 29,530 shares during the period. Millennium Management LLC raised its position in Weatherford International by 33.0% in the second quarter. Millennium Management LLC now owns 631,862 shares of the company’s stock worth $77,372,000 after acquiring an additional 156,756 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Weatherford International by 7.1% in the second quarter. AQR Capital Management LLC now owns 92,881 shares of the company’s stock valued at $11,373,000 after acquiring an additional 6,165 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Company Profile

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.