Weatherford International (NASDAQ:WFRD) Sets New 1-Year Low – Here’s What Happened

Weatherford International plc (NASDAQ:WFRD)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $66.03 and last traded at $65.67, with a volume of 274261 shares trading hands. The stock had previously closed at $68.86.

Analysts Set New Price Targets

WFRD has been the topic of several research reports. Citigroup dropped their price objective on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. 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 report on Thursday, October 24th. Barclays decreased their price objective on Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Bank of America cut their target price on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Benchmark reaffirmed a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.25.

Weatherford International Stock Down 1.7 %

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 company has a fifty day moving average price of $73.88 and a 200 day moving average price of $89.22. The company has a market cap of $4.69 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.52 and a beta of 0.64.

Insiders Place Their Bets

In related news, EVP David John Reed sold 4,762 shares of Weatherford International 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 transaction, the executive vice president now owns 11,109 shares in the company, valued at $807,179.94. This trade represents a 30.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC raised its position in Weatherford International by 36.7% during the 3rd quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after purchasing an additional 959,783 shares during the last quarter. State Street Corp lifted its stake in Weatherford International by 3.1% in the third quarter. State Street Corp now owns 2,267,484 shares of the company’s stock worth $192,555,000 after acquiring an additional 68,553 shares during the period. Pacer Advisors Inc. boosted its holdings in Weatherford International by 551.1% in the third quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after acquiring an additional 1,219,553 shares in the last quarter. Jennison Associates LLC increased its position in Weatherford International by 30.6% during the 3rd quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after purchasing an additional 310,259 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Weatherford International by 28.6% in the 4th quarter. Van ECK Associates Corp now owns 917,530 shares of the company’s stock worth $65,723,000 after purchasing an additional 204,317 shares in 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.