Weatherford International (NASDAQ:WFRD) Given New $122.00 Price Target at Raymond James Financial

Weatherford International (NASDAQ:WFRD) had its target price lowered by Raymond James Financial from $125.00 to $122.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on the company. Weiss Ratings raised Weatherford International from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Citigroup cut their price objective on shares of Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Wall Street Zen cut shares of Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Barclays boosted their price objective on shares of Weatherford International from $111.00 to $156.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, UBS Group increased their target price on shares of Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Weatherford International presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $84.36 on Friday. The stock has a market cap of $6.07 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.74 and a beta of 0.86. Weatherford International has a fifty-two week low of $52.33 and a fifty-two week high of $113.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. The stock has a fifty day moving average of $98.05 and a 200-day moving average of $95.56.

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

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Wednesday, May 6th were issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. Weatherford International’s dividend payout ratio (DPR) is presently 17.21%.

Institutional Trading of Weatherford International

A number of large investors have recently modified their holdings of the business. TD Private Client Wealth LLC increased its position in shares of Weatherford International by 4.2% in the fourth quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock worth $252,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Weatherford International by 24.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock valued at $55,000 after purchasing an additional 137 shares during the last quarter. Corient Private Wealth LLC lifted its position in Weatherford International by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock valued at $385,000 after purchasing an additional 146 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Weatherford International by 4.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,851 shares of the company’s stock worth $364,000 after buying an additional 151 shares in the last quarter. Finally, CWM LLC grew its stake in Weatherford International by 2.3% in the 4th quarter. CWM LLC now owns 7,711 shares of the company’s stock worth $603,000 after buying an additional 170 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.