Insider Selling: Weatherford International (NASDAQ:WFRD) Director Sells $370,507.00 in Stock

Weatherford International PLC (NASDAQ:WFRD) Director Jacqueline Mutschler sold 4,094 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $90.50, for a total value of $370,507.00. Following the completion of the transaction, the director directly owned 29,093 shares in the company, valued at $2,632,916.50. This trade represents a 12.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Weatherford International Stock Performance

WFRD opened at $94.79 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.34 and a quick ratio of 1.77. Weatherford International PLC has a 1-year low of $54.69 and a 1-year high of $113.15. The company has a 50 day simple moving average of $88.03 and a two-hundred day simple moving average of $96.03. The firm has a market cap of $6.79 billion, a P/E ratio of 18.70, a PEG ratio of 1.54 and a beta of 0.87.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.35). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.The company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.87 EPS. Equities analysts forecast that Weatherford International PLC will post 5.35 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared 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 of this dividend is Thursday, August 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.2%. Weatherford International’s payout ratio is currently 21.70%.

Institutional Trading of Weatherford International

Several hedge funds have recently modified their holdings of WFRD. TD Private Client Wealth LLC boosted its position in shares of Weatherford International by 4.2% during the 4th quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock valued at $252,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Weatherford International by 24.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock valued at $55,000 after purchasing an additional 137 shares in the last quarter. Corient Private Wealth LLC raised its stake in Weatherford International by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock valued at $385,000 after purchasing an additional 146 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Weatherford International by 4.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,851 shares of the company’s stock valued at $364,000 after purchasing an additional 151 shares during the last quarter. Finally, CWM LLC lifted its position in Weatherford International by 2.3% during the fourth quarter. CWM LLC now owns 7,711 shares of the company’s stock valued at $603,000 after purchasing an additional 170 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WFRD shares. Citigroup cut their price objective on shares of Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 26th. Weiss Ratings lowered shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Wall Street Zen cut shares of Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Barclays reduced their price target on shares of Weatherford International from $154.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Finally, UBS Group upgraded shares of Weatherford International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $113.00 to $114.00 in a research note on Wednesday, July 29th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.56.

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.