Weatherford International (NASDAQ:WFRD – Get Free Report) had its price target reduced by analysts at The Goldman Sachs Group from $106.00 to $94.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 25.86% from the stock’s previous close.
WFRD has been the subject of a number of other reports. Raymond James Financial cut their price objective on Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Wall Street Zen lowered Weatherford International from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Weatherford International in a research note on Monday. Barclays cut their price target on shares of Weatherford International from $154.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Finally, UBS Group cut their price target on shares of Weatherford International from $120.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Six investment 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’s stock. According to MarketBeat, Weatherford International currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.29.
View Our Latest Report on Weatherford International
Weatherford International Price Performance
Weatherford International (NASDAQ:WFRD – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. Weatherford International had a return on equity of 21.50% and a net margin of 7.66%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.87 EPS. As a group, analysts predict that Weatherford International will post 5.22 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Benjamin Duster, IV sold 6,000 shares of Weatherford International stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total transaction of $516,540.00. Following the sale, the director owned 11,187 shares of the company’s stock, valued at approximately $963,088.83. The trade was a 34.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacqueline 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 sale, the director owned 29,093 shares of the company’s stock, valued at approximately $2,632,916.50. This represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,094 shares of company stock valued at $2,244,487 over the last ninety days. Company insiders own 2.08% of the company’s stock.
Hedge Funds Weigh In On Weatherford International
A number of institutional investors and hedge funds have recently modified their holdings of WFRD. IFP Advisors Inc grew its position in Weatherford International by 72.0% during the 2nd quarter. IFP Advisors Inc now owns 313 shares of the company’s stock worth $26,000 after purchasing an additional 131 shares during the last quarter. Plato Investment Management Ltd purchased a new position in Weatherford International in the second quarter valued at about $38,000. Summit Securities Group LLC purchased a new stake in Weatherford International during the first quarter worth $53,000. EverSource Wealth Advisors LLC increased its stake in shares of Weatherford International by 32.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $88,000 after purchasing an additional 231 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Weatherford International by 31.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,770 shares of the company’s stock worth $144,000 after buying an additional 420 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.
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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