Barclays Has Lowered Expectations for Weatherford International (NASDAQ:WFRD) Stock Price

Weatherford International (NASDAQ:WFRD) had its target price lowered by analysts at Barclays from $154.00 to $151.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 70.28% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Zacks Research cut shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Citigroup reduced their price target on Weatherford International from $137.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Raymond James Financial decreased their price objective on Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Piper Sandler lifted their price objective on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, UBS Group upped their target price on Weatherford International from $105.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.44.

Weatherford International Stock Performance

Shares of NASDAQ WFRD opened at $88.68 on Friday. The company has a 50-day simple moving average of $93.26 and a 200-day simple moving average of $95.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.34 and a quick ratio of 1.73. The company has a market cap of $6.36 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. Weatherford International has a 12 month low of $52.70 and a 12 month high of $113.15.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.35). Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company posted $1.87 EPS. The business’s quarterly revenue was down 8.2% on a year-over-year basis. On average, equities analysts anticipate that Weatherford International will post 5.42 earnings per share for the current year.

Hedge Funds Weigh In On Weatherford International

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Weatherford International by 223.0% during the 1st quarter. Royal Bank of Canada now owns 122,662 shares of the company’s stock worth $6,568,000 after buying an additional 84,684 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Weatherford International by 129.3% in the first quarter. Goldman Sachs Group Inc. now owns 143,703 shares of the company’s stock valued at $7,695,000 after acquiring an additional 81,046 shares during the last quarter. United Services Automobile Association acquired a new position in Weatherford International in the first quarter valued at $258,000. Cetera Investment Advisers grew its position in Weatherford International by 26.8% during the second quarter. Cetera Investment Advisers now owns 12,764 shares of the company’s stock valued at $642,000 after acquiring an additional 2,695 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Weatherford International by 83.5% during the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares during the period. Institutional investors and hedge funds 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.