Weatherford International (NASDAQ:WFRD – Free Report) had its target price cut by Barclays from $151.00 to $148.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.
Several other research firms have also issued reports on WFRD. UBS Group dropped their price target on shares of Weatherford International from $120.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. Citigroup decreased their price objective on Weatherford International from $137.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 26th. The Goldman Sachs Group lowered their price objective on Weatherford International from $106.00 to $94.00 and set a “neutral” rating on the stock in a research note on Wednesday. Zacks Research lowered Weatherford International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen cut Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Weatherford International presently has an average rating of “Moderate Buy” and a consensus price target of $116.86.
View Our Latest Report on WFRD
Weatherford International Trading Up 1.6%
Shares of WFRD stock opened at $76.19 on Thursday. Weatherford International has a 52-week low of $61.75 and a 52-week high of $113.15. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.39 and a beta of 1.05. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.77 and a current ratio of 2.34. The firm has a fifty day moving average of $86.62 and a 200-day moving average of $92.61.
Weatherford International (NASDAQ:WFRD – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). Weatherford International had a return on equity of 21.50% and a net margin of 7.66%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business posted $1.87 earnings per share. Weatherford International’s revenue was down 8.2% on a year-over-year basis. On average, equities research analysts forecast that Weatherford International will post 5.18 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Neal P. Goldman sold 16,000 shares of the stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $84.84, for a total transaction of $1,357,440.00. Following the completion of the sale, the director owned 12,187 shares in the company, valued at $1,033,945.08. This trade represents a 56.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jacqueline C. Mutschler sold 4,094 shares of Weatherford International stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $90.50, for a total transaction of $370,507.00. Following the transaction, the director directly owned 29,093 shares of the company’s stock, valued at $2,632,916.50. This represents a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 26,094 shares of company stock worth $2,244,487. Corporate insiders own 2.07% of the company’s stock.
Hedge Funds Weigh In On Weatherford International
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Weatherford International by 9.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,405 shares of the company’s stock worth $189,000 after acquiring an additional 214 shares during the last quarter. Tidal Investments LLC raised its position in Weatherford International by 19.3% in the 2nd quarter. Tidal Investments LLC now owns 89,847 shares of the company’s stock valued at $7,323,000 after purchasing an additional 14,537 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Weatherford International in the 2nd quarter valued at $172,000. IFP Advisors Inc raised its position in Weatherford International by 72.0% in the 2nd quarter. IFP Advisors Inc now owns 313 shares of the company’s stock valued at $26,000 after purchasing an additional 131 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in Weatherford International by 3,125.3% in the 2nd quarter. Squarepoint Ops LLC now owns 71,731 shares of the company’s stock valued at $5,846,000 after purchasing an additional 69,507 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.
About Weatherford International
Weatherford International plc is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the exploration, drilling, completion, production and intervention stages of the well life cycle, helping energy companies develop and manage onshore and offshore assets.
The company’s portfolio includes drilling and formation-evaluation services, well construction and completion technologies, production optimization, artificial-lift systems, well intervention and pressure-control services.
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