Barclays Cuts Weatherford International (NASDAQ:WFRD) Price Target to $147.00

Weatherford International (NASDAQ:WFRD) had its price objective trimmed by Barclays from $154.00 to $147.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

WFRD has been the topic of a number of other research reports. Raymond James cut their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 25th. Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Thursday. Evercore ISI decreased their price objective on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday. Bank of America decreased their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Citigroup lowered their price target on Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $144.88.

Weatherford International Trading Up 3.9 %

WFRD stock opened at $80.35 on Friday. Weatherford International has a fifty-two week low of $77.29 and a fifty-two week high of $135.00. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 0.86 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. The business has a fifty day moving average price of $93.33 and a 200 day moving average price of $109.70.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 49.11%. Weatherford International’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 earnings per share. Analysts expect that Weatherford International will post 6.56 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $1.00 annualized dividend and a yield of 1.24%. Weatherford International’s dividend payout ratio is currently 16.18%.

Insider Buying and Selling

In other Weatherford International news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated 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 at the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Weatherford International

Several large investors have recently modified their holdings of the stock. First Hawaiian Bank bought a new stake in shares of Weatherford International during the 2nd quarter worth approximately $1,653,000. Allspring Global Investments Holdings LLC grew its stake in shares of Weatherford International by 669.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company’s stock worth $1,872,000 after purchasing an additional 14,112 shares during the last quarter. Entropy Technologies LP grew its position in shares of Weatherford International by 79.7% in the 1st quarter. Entropy Technologies LP now owns 11,985 shares of the company’s stock valued at $1,383,000 after buying an additional 5,315 shares during the last quarter. Sei Investments Co. increased its position in Weatherford International by 107.2% during the 1st quarter. Sei Investments Co. now owns 23,527 shares of the company’s stock valued at $2,715,000 after purchasing an additional 12,170 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Weatherford International by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,409,020 shares of the company’s stock worth $739,730,000 after buying an additional 182,120 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

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.