Citigroup Lowers Weatherford International (NASDAQ:WFRD) Price Target to $115.00

Weatherford International (NASDAQ:WFRD) had its target price lowered by Citigroup from $130.00 to $115.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research note on Thursday, October 24th. Raymond James lowered their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. Barclays lowered their target price on Weatherford International from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Evercore ISI lowered their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Bank of America lowered their target price on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $147.29.

Weatherford International Stock Performance

Weatherford International stock opened at $81.86 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The stock has a fifty day moving average price of $87.59 and a two-hundred day moving average price of $106.05. Weatherford International has a 52-week low of $77.00 and a 52-week high of $135.00. The firm has a market capitalization of $5.95 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.70 and a beta of 0.60.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the company posted $1.66 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that Weatherford International will post 6.91 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Weatherford International’s payout ratio is 14.04%.

Insider Buying and Selling

In related news, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David John Reed sold 6,805 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new position in Weatherford International during the first quarter worth about $29,000. Farther Finance Advisors LLC boosted its holdings in Weatherford International by 364.9% during the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after buying an additional 281 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after buying an additional 85 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Weatherford International by 50.4% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after buying an additional 128 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Weatherford International during the third quarter worth about $34,000. Institutional investors own 97.23% of the company’s stock.

About Weatherford International

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.