Weatherford International (NASDAQ:WFRD) Stock Price Expected to Rise, Barclays Analyst Says

Weatherford International (NASDAQ:WFRD) had its price target increased by equities researchers at Barclays from $81.00 to $111.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 44.16% from the company’s current price.

Other research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, October 8th. Zacks Research raised shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Melius Research initiated coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They issued a “buy” rating and a $108.00 target price for the company. Citigroup raised their price target on shares of Weatherford International from $77.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, UBS Group began coverage on shares of Weatherford International in a research report on Tuesday, December 2nd. They issued a “neutral” rating and a $82.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.70.

Weatherford International Trading Down 0.5%

NASDAQ WFRD opened at $77.00 on Wednesday. Weatherford International has a 1 year low of $36.74 and a 1 year high of $82.26. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55. The company has a market capitalization of $5.52 billion, a PE ratio of 13.95 and a beta of 0.79. The company has a fifty day moving average of $72.51 and a 200 day moving average of $62.84.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Weatherford International had a net margin of 8.15% and a return on equity of 28.28%. The business’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.06 EPS. Research analysts forecast that Weatherford International will post 5.89 earnings per share for the current year.

Insider Transactions at Weatherford International

In other Weatherford International news, EVP Kristin Ruzicka sold 2,129 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $77.25, for a total transaction of $164,465.25. Following the completion of the sale, the executive vice president directly owned 15,673 shares in the company, valued at approximately $1,210,739.25. The trade was a 11.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.09% of the company’s stock.

Institutional Trading of Weatherford International

A number of institutional investors have recently made changes to their positions in WFRD. Connor Clark & Lunn Investment Management Ltd. raised its stake in Weatherford International by 122.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,117 shares of the company’s stock valued at $435,000 after purchasing an additional 4,474 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Weatherford International during the first quarter worth $17,168,000. Russell Investments Group Ltd. raised its position in shares of Weatherford International by 23.8% in the first quarter. Russell Investments Group Ltd. now owns 51,977 shares of the company’s stock valued at $2,783,000 after buying an additional 9,981 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Weatherford International by 47.7% in the first quarter. American Century Companies Inc. now owns 414,338 shares of the company’s stock worth $22,188,000 after buying an additional 133,828 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in Weatherford International by 36.4% during the first quarter. Raymond James Financial Inc. now owns 137,353 shares of the company’s stock worth $7,355,000 after acquiring an additional 36,630 shares during the last quarter. 97.23% of the stock is 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.