Weatherford International plc (NASDAQ:WFRD) Sees Significant Growth in Short Interest

Weatherford International plc (NASDAQ:WFRD) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,870,000 shares, a growth of 67.0% from the September 15th total of 1,120,000 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average trading volume of 954,000 shares, the days-to-cover ratio is presently 2.0 days.

Weatherford International Trading Down 2.3 %

Weatherford International stock traded down $2.14 during midday trading on Monday, reaching $92.19. The stock had a trading volume of 32,002 shares, compared to its average volume of 883,842. The stock has a market capitalization of $6.74 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.67 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.47 and a current ratio of 1.99. The stock’s 50-day simple moving average is $97.29 and its 200 day simple moving average is $112.18. Weatherford International has a twelve month low of $82.16 and a twelve month high of $135.00.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business posted $1.12 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts expect that Weatherford International will post 6.81 EPS for the current year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. Weatherford International’s payout ratio is currently 14.88%.

Insiders Place Their Bets

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Weatherford International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of Weatherford International during the fourth quarter valued at about $518,000. PNC Financial Services Group Inc. increased its holdings in Weatherford International by 86.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the company’s stock worth $132,000 after purchasing an additional 628 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Weatherford International by 6.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 31,587 shares of the company’s stock valued at $3,646,000 after purchasing an additional 1,910 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Weatherford International during the 1st quarter valued at approximately $34,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Weatherford International during the first quarter worth approximately $253,000. 97.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WFRD shares. Raymond James dropped their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 25th. Citigroup cut their target price on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Wednesday, July 24th. Barclays raised their target price on shares of Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Bank of America boosted their price target on Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Weatherford International currently has an average rating of “Buy” and an average price target of $150.75.

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.