Weatherford International (NASDAQ:WFRD) Price Target Cut to $85.00 by Analysts at Barclays

Weatherford International (NASDAQ:WFRD) had its price target lowered by Barclays from $92.00 to $85.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Citigroup decreased their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Benchmark lowered their target price on Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Raymond James cut their price target on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a report on Friday, February 7th. Piper Sandler lowered their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and cut their target price for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.75.

Weatherford International Stock Performance

WFRD stock opened at $53.55 on Monday. The company has a 50-day simple moving average of $61.68 and a 200 day simple moving average of $74.52. The company has a market capitalization of $3.90 billion, a P/E ratio of 7.97, a PEG ratio of 1.65 and a beta of 0.61. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. Weatherford International has a fifty-two week low of $51.24 and a fifty-two week high of $135.00.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. Sell-side analysts predict that Weatherford International will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, February 21st. Weatherford International’s payout ratio is 14.88%.

Insider Activity

In other news, CAO Desmond J. Mills sold 19,425 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.51, for a total value of $1,311,381.75. Following the completion of the sale, the chief accounting officer now directly owns 17,899 shares of the company’s stock, valued at $1,208,361.49. This represents a 52.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the sale, the executive vice president now owns 125,019 shares of the company’s stock, valued at approximately $8,272,507.23. This represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,692 shares of company stock worth $6,207,725 over the last 90 days. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WFRD. Lindbrook Capital LLC increased its stake in shares of Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares during the last quarter. Huntington National Bank grew its stake in Weatherford International by 190.4% in the fourth quarter. Huntington National Bank now owns 392 shares of the company’s stock valued at $28,000 after purchasing an additional 257 shares in the last quarter. Zions Bancorporation N.A. acquired a new position in Weatherford International in the 4th quarter worth about $29,000. R Squared Ltd purchased a new stake in shares of Weatherford International during the 4th quarter worth about $36,000. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Weatherford International during the 3rd quarter valued at about $42,000. Hedge funds and other 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.