Weatherford International (NASDAQ:WFRD) PT Lowered to $130.00 at Citigroup

Weatherford International (NASDAQ:WFRD) had its price target cut by research analysts at Citigroup from $155.00 to $130.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 47.84% from the stock’s previous close.

WFRD has been the topic of several other research reports. Bank of America raised their price target on shares of Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a report on Wednesday, July 24th. Barclays boosted their target price on Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Raymond James decreased 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. Seven 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 stock currently has an average rating of “Buy” and an average price target of $150.75.

Weatherford International Price Performance

Shares of NASDAQ WFRD traded down $6.53 during midday trading on Wednesday, hitting $87.93. The company had a trading volume of 663,240 shares, compared to its average volume of 880,296. Weatherford International has a twelve month low of $82.16 and a twelve month high of $135.00. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 0.69 and a beta of 0.61. The business has a 50-day simple moving average of $105.64 and a two-hundred day simple moving average of $114.51. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts anticipate that Weatherford International will post 6.81 earnings per share for the current year.

Insider Buying and Selling

In other Weatherford International news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Weatherford International

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp lifted its position in Weatherford International by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after purchasing an additional 85 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Weatherford International by 8.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company’s stock worth $188,000 after purchasing an additional 120 shares during the period. Oliver Luxxe Assets LLC boosted its position in shares of Weatherford International by 1.1% during the first quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock worth $1,307,000 after purchasing an additional 125 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Weatherford International by 50.4% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $47,000 after buying an additional 128 shares in the last quarter. Finally, Covestor Ltd raised its stake in Weatherford International by 23.4% during the 1st quarter. Covestor Ltd now owns 918 shares of the company’s stock worth $106,000 after buying an additional 174 shares during the period. 97.23% of the stock is currently 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.