Weatherford International plc (NASDAQ:WFRD) finished Friday with an addition of $1.05 to close at $87.15, an upside of 1.22 percent. An average of 722,840 shares of common stock have been traded in the last five days. There was a gain of $3.81 in the past week, and it reached a new high 58 times over the past 12 months. The last 20 days have seen an average of 889,975 shares traded, while the 50-day average volume stands at 822,686.
WFRD stock has increased by 14.04% in the last month. The company shares reached their 1-month lowest point of $72.57 on 07/20/23. With the stock rallying to its 52-week high on 08/09/23, shares of the company touched a low of $22.44 and a high of $88.32 in 52 weeks. It has reached a new high 28 times so far this year and achieved 71.15% or $36.23 in price. In spite of this, the price is down -1.32% from the 52-week high.
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Insider Transactions
WFRD stock investors should be aware that Weatherford International plc (WFRD) stock had its last reported insider trading activity 81 days ago on May 23. In this transaction, the insider spent $3,011,454. SVP & Chief Accounting Officer, Mills Desmond J, disposed of 15,000 shares at a price of $57.42 on May 18. The insider now owns more than $861,300 worth of shares. Prior to that, EVP & Chief People Officer Mongrain Joseph H went on to Sale 15,000 shares at $66.83 each on Mar 02. An amount of $1,002,450 was transacted.
Valuation Metrics
Weatherford International plc (WFRD) has a trailing price-to-earnings (P/E) ratio of 25.30. The stock’s beta is 2.06. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.31, the price-to-book (PB) ratio at 9.73, and the price-to-cash flow ratio at 13.92.
Financial Health
The quick ratio of Weatherford International plc for the three months ended June 29 was 1.50, and the current ratio was 2.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 3.09 and a total debt to equity ratio of 3.14 for the quarter ending June 29. Weatherford International plc’s EBITDA margin for the year ending June 29 is 18.19%, while its operating margin for the same period stands at 14.00%. Its gross profit as reported stood at $1.31 billion compared to revenue of $4.33 billion.
Earnings Surprise
For the three-month period that ended June 29, Weatherford International plc had $1.99 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $82.0 million in the quarter, while revenues were grew 92.68%. The analyst consensus anticipated Weatherford International plc’s latest quarter earnings to come in at $1.13 per share, but it turned out to be $1.12, a -0.90% surprise. For the quarter, EBITDA amounted to $282.0 million. Shareholders own equity worth $72.08 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Weatherford International plc (WFRD) price momentum. RSI 9-day as of the close on 11 August was 80.26%, suggesting the stock is Overbought, with historical volatility in this time frame at 16.93%.
As of today, WFRD’s price is $85.60 +4.57% or $3.81 from its 5-day moving average. WFRD is currently trading +14.91% higher than its 20-day SMA and +60.53% higher than its 100-day SMA. However, the stock’s current price level is +54.41% above the SMA50 and +130.86% above the SMA200.
The stochastic %K and %D were 85.99% and 87.61%, respectively, and the average true range (ATR) was 2.83. With the 14-day stochastic at 90.16% and the average true range at 2.85, the RSI (14) stands at 76.84%. The stock has reached 1.87 on the 9-day MACD Oscillator while the 14-day reading was at 3.25.
Analyst Ratings
CapitalOne launched coverage on Weatherford International plc (NASDAQ: WFRD) in its analyst report released on June 07, 2023. The firm assigned the stock an Overweight rating. The consensus rating for Weatherford International plc (WFRD) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell WFRD, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 others rate it as a “buy”.
What is WFRD’s price target for the next 12 months?
Analysts predict a range of price targets between $100.00 and $116.00, with a median target of $108.00. Taking a look at these predictions, the average price target given by analysts for Weatherford International plc (WFRD) stock is $107.33.
