Weatherford International (NASDAQ:WFRD) Sets New 12-Month Low – Time to Sell?

Weatherford International plc (NASDAQ:WFRD) shares reached 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WFRD shares. Evercore ISI reduced their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Piper Sandler initiated coverage on shares of Weatherford International in a research note on Thursday, December 19th. They issued a “neutral” rating and a $87.00 price target for the company. Barclays cut their price objective on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and lowered their target price for the company from $132.00 to $98.00 in a report on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research report on Thursday, October 24th. Two 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. According to MarketBeat, Weatherford International presently 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 stock has a market cap of $4.69 billion, a PE ratio of 9.07, a PEG ratio of 1.52 and a beta of 0.64. The company has a 50 day moving average price of $73.88 and a two-hundred day moving average price of $89.22.

Insider Transactions at Weatherford International

In related news, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $807,179.94. This trade represents a 30.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently modified their holdings of WFRD. Pacer Advisors Inc. grew its stake in shares of Weatherford International by 551.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock worth $122,356,000 after purchasing an additional 1,219,553 shares during the period. FMR LLC grew its position in Weatherford International by 36.7% during the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after buying an additional 959,783 shares during the period. Jennison Associates LLC increased its holdings in Weatherford International by 30.6% in the third quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after buying an additional 310,259 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Weatherford International by 402.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,482 shares of the company’s stock worth $27,555,000 after acquiring an additional 259,924 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Weatherford International by 28.6% during the 4th quarter. Van ECK Associates Corp now owns 917,530 shares of the company’s stock valued at $65,723,000 after acquiring an additional 204,317 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

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.