Weatherford International (NASDAQ:WFRD) Given New $137.00 Price Target at Citigroup

Weatherford International (NASDAQ:WFRD) had its target price lifted by Citigroup from $134.00 to $137.00 in a research note published on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group lifted their price target on shares of Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Weiss Ratings downgraded shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Zacks Research downgraded shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. UBS Group lifted their price target on shares of Weatherford International from $105.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada began coverage on shares of Weatherford International in a research report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.67.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $104.09 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83. The company has a market cap of $7.49 billion, a P/E ratio of 16.29, a PEG ratio of 0.93 and a beta of 0.82. Weatherford International has a 52 week low of $45.97 and a 52 week high of $113.15. The company has a 50-day moving average price of $103.18 and a 200 day moving average price of $92.89.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.47. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. Research analysts predict that Weatherford International will post 6.13 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Wednesday, May 6th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, May 6th. Weatherford International’s payout ratio is currently 17.21%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital Research Global Investors grew its stake in Weatherford International by 1.8% in the 3rd quarter. Capital Research Global Investors now owns 5,673,603 shares of the company’s stock worth $388,245,000 after acquiring an additional 98,663 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Weatherford International by 5.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,156,773 shares of the company’s stock valued at $403,571,000 after buying an additional 281,984 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Weatherford International by 3.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,928,226 shares of the company’s stock valued at $150,903,000 after buying an additional 66,553 shares during the period. First Trust Advisors LP grew its stake in shares of Weatherford International by 12.4% during the 1st quarter. First Trust Advisors LP now owns 1,760,467 shares of the company’s stock valued at $166,505,000 after buying an additional 194,654 shares during the period. Finally, Holocene Advisors LP grew its stake in shares of Weatherford International by 712.8% during the 2nd quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after buying an additional 1,443,512 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

About Weatherford International

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.