Weatherford International plc (NASDAQ:WFRD) Announces $0.25 Quarterly Dividend

Weatherford International plc (NASDAQ:WFRD) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Wednesday, November 6th will be given a dividend of 0.25 per share on Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, November 6th.

Weatherford International Trading Down 3.3 %

Shares of Weatherford International stock opened at $81.16 on Thursday. The company has a market capitalization of $5.94 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58. The stock has a fifty day simple moving average of $94.51 and a 200 day simple moving average of $110.39. Weatherford International has a 12-month low of $80.54 and a 12-month high of $135.00. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 1.31.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 49.11%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $1.66 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Weatherford International will post 6.56 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays decreased their price objective on shares of Weatherford International from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Raymond James decreased 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. Bank of America cut their price objective 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. Citigroup reduced their price objective on Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $146.88.

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.