Weatherford International (NASDAQ:WFRD) Price Target Cut to $115.00 by Analysts at Citigroup

Weatherford International (NASDAQ:WFRD) had its target price reduced by Citigroup from $130.00 to $115.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 39.19% from the stock’s current price.

Other analysts have also issued reports about the stock. Evercore ISI reduced their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Raymond James dropped their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research note on Thursday, October 24th. Bank of America decreased their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Barclays cut their price objective on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $143.00.

Weatherford International Stock Down 3.1 %

Shares of WFRD traded down $2.61 during trading hours on Thursday, hitting $82.62. The company had a trading volume of 513,789 shares, compared to its average volume of 915,314. Weatherford International has a 52-week low of $77.00 and a 52-week high of $135.00. The firm has a fifty day moving average price of $87.95 and a 200-day moving average price of $106.66. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 0.75 and a beta of 0.60. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.66 earnings per share. On average, equities research analysts forecast that Weatherford International will post 6.91 EPS for the current fiscal year.

Insider Transactions at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Weatherford International news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Desmond J. Mills sold 6,531 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the transaction, the chief accounting officer now owns 11,680 shares in the company, valued at $932,764.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WFRD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Weatherford International by 402.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,482 shares of the company’s stock valued at $27,555,000 after acquiring an additional 259,924 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Weatherford International by 4.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,982 shares of the company’s stock valued at $1,527,000 after purchasing an additional 723 shares during the period. Cynosure Group LLC grew its holdings in shares of Weatherford International by 73.8% in the third quarter. Cynosure Group LLC now owns 11,537 shares of the company’s stock worth $980,000 after purchasing an additional 4,898 shares during the last quarter. Quantbot Technologies LP purchased a new position in Weatherford International in the 3rd quarter worth about $1,353,000. Finally, FMR LLC lifted its holdings in Weatherford International by 36.7% during the 3rd quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after buying an additional 959,783 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.