Weatherford International (NASDAQ:WFRD) Price Target Cut to $109.00 by Analysts at Barclays

Weatherford International (NASDAQ:WFRD) had its target price reduced by Barclays from $111.00 to $109.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on WFRD. The Goldman Sachs Group upped their price objective on Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday. Piper Sandler lifted their price objective on shares of Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. UBS Group started coverage on shares of Weatherford International in a research note on Tuesday, December 2nd. They set a “neutral” rating and a $82.00 price objective on the stock. Finally, Zacks Research downgraded shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $89.93 on Friday. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 16.29 and a beta of 0.79. The business has a 50-day moving average of $79.76 and a 200-day moving average of $68.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55. Weatherford International has a fifty-two week low of $36.74 and a fifty-two week high of $93.14.

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

Insider Activity at Weatherford International

In related news, EVP Kristin Ruzicka sold 2,129 shares of Weatherford International stock in a transaction dated Friday, December 5th. The shares were 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 owned 15,673 shares of the company’s stock, valued at approximately $1,210,739.25. The trade was a 11.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

Institutional investors have recently made changes to their positions in the company. Quent Capital LLC bought a new position in shares of Weatherford International during the third quarter worth approximately $26,000. Elevation Point Wealth Partners LLC bought a new stake in Weatherford International in the 2nd quarter valued at $27,000. EverSource Wealth Advisors LLC grew its holdings in Weatherford International by 83.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after buying an additional 253 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Weatherford International by 69.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock worth $29,000 after buying an additional 240 shares during the period. Finally, American National Bank & Trust lifted its holdings in shares of Weatherford International by 2,392.0% during the second quarter. American National Bank & Trust now owns 623 shares of the company’s stock worth $31,000 after buying an additional 598 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.