Weatherford International (NASDAQ:WFRD) PT Lowered to $147.00 at Barclays

Weatherford International (NASDAQ:WFRD) had its price target reduced by equities research analysts at Barclays from $154.00 to $147.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 82.95% from the company’s current price.

Other analysts also recently issued reports about the company. Raymond James reduced their price target 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. Citigroup reduced their target price on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Evercore ISI lowered their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a report on Thursday. Finally, Bank of America lowered their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $144.88.

Weatherford International Price Performance

Shares of WFRD opened at $80.35 on Friday. The firm has a market capitalization of $5.88 billion, a PE ratio of 13.00, a PEG 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 company’s 50-day moving average is $93.33 and its 200-day moving average is $109.79. Weatherford International has a fifty-two week low of $77.29 and a fifty-two week high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued 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 net margin of 9.65% and a return on equity of 49.11%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business posted $1.66 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts forecast that Weatherford International will post 6.56 EPS for the current year.

Insider Activity

In related news, EVP David John Reed sold 6,805 shares of the stock in a transaction that occurred 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 SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

Large investors have recently modified their holdings of the business. First Hawaiian Bank acquired a new position in shares of Weatherford International during the 2nd quarter worth $1,653,000. Allspring Global Investments Holdings LLC grew its position in Weatherford International by 669.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company’s stock valued at $1,872,000 after acquiring an additional 14,112 shares during the last quarter. Entropy Technologies LP raised its stake in Weatherford International by 79.7% during the first quarter. Entropy Technologies LP now owns 11,985 shares of the company’s stock worth $1,383,000 after acquiring an additional 5,315 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Weatherford International by 107.2% in the first quarter. Sei Investments Co. now owns 23,527 shares of the company’s stock worth $2,715,000 after acquiring an additional 12,170 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Weatherford International by 2.9% in 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 acquiring an additional 182,120 shares during the last quarter. Institutional investors and hedge funds 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.