Weatherford International (NASDAQ:WFRD) Sets New 52-Week Low – Time to Sell?

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WFRD. Barclays decreased their price objective on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Piper Sandler assumed coverage on Weatherford International in a report on Thursday, December 19th. They issued a “neutral” rating and a $87.00 price objective on the stock. The Goldman Sachs Group lowered Weatherford International from a “buy” rating to a “neutral” rating and decreased their target price for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Finally, Bank of America cut their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.25.

Weatherford International Stock Performance

The company has a market cap of $4.81 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 1.52 and a beta of 0.64. The stock’s fifty day simple moving average is $74.95 and its 200 day simple moving average is $90.00. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Insider Activity at Weatherford International

In related news, EVP David John Reed sold 4,762 shares of the company’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 completion of the sale, the executive vice president now owns 11,109 shares of the company’s stock, valued at approximately $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Weatherford International by 36.9% in the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $44,000 after purchasing an additional 141 shares in the last quarter. KBC Group NV increased its stake in shares of Weatherford International by 10.4% during the third quarter. KBC Group NV now owns 1,945 shares of the company’s stock worth $165,000 after buying an additional 184 shares during the period. Legacy Wealth Asset Management LLC raised its holdings in Weatherford International by 7.3% in the third quarter. Legacy Wealth Asset Management LLC now owns 2,997 shares of the company’s stock valued at $255,000 after acquiring an additional 203 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Weatherford International by 4.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 5,293 shares of the company’s stock worth $648,000 after acquiring an additional 210 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after acquiring an additional 281 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

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.