Raymond James Issues Pessimistic Forecast for Weatherford International (NASDAQ:WFRD) Stock Price

Weatherford International (NASDAQ:WFRD) had its price objective cut by equities research analysts at Raymond James from $97.00 to $73.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ target price points to a potential upside of 67.89% from the stock’s current price.

A number of other research firms also recently weighed in on WFRD. Benchmark decreased their target price on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Citigroup decreased their price objective on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, December 20th. Barclays dropped their target price on Weatherford International from $92.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Finally, Piper Sandler decreased their price target on Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Weatherford International currently has an average rating of “Moderate Buy” and a consensus price target of $103.75.

Weatherford International Trading Down 0.0 %

Shares of NASDAQ WFRD opened at $43.48 on Monday. Weatherford International has a twelve month low of $36.74 and a twelve month high of $135.00. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 6.47, a P/E/G ratio of 1.65 and a beta of 0.70. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The company’s fifty day moving average is $55.72 and its 200-day moving average is $70.49.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. Equities research analysts predict that Weatherford International will post 5.89 EPS for the current year.

Insider Transactions at Weatherford International

In other news, EVP Scott C. Weatherholt sold 44,505 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $8,272,507.23. This represents a 26.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Arunava Mitra sold 10,000 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.57, for a total value of $675,700.00. Following the completion of the transaction, the chief financial officer now directly owns 21,072 shares of the company’s stock, valued at approximately $1,423,835.04. This trade represents a 32.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,930 shares of company stock worth $5,861,718. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Weatherford International

Several hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC boosted its position in shares of Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares in the last quarter. Huntington National Bank lifted its stake in Weatherford International by 190.4% during the fourth quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after purchasing an additional 257 shares during the last quarter. Zions Bancorporation N.A. bought a new stake in Weatherford International during the fourth quarter worth $29,000. R Squared Ltd acquired a new stake in shares of Weatherford International in the 4th quarter valued at $36,000. Finally, Fifth Third Bancorp increased its stake in shares of Weatherford International by 546.7% in the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company’s stock valued at $32,000 after purchasing an additional 503 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

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.