Piper Sandler Cuts Weatherford International (NASDAQ:WFRD) Price Target to $82.00

Weatherford International (NASDAQ:WFRD) had its price objective decreased by Piper Sandler from $87.00 to $82.00 in a report released on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other research analysts also recently weighed in on WFRD. Citigroup decreased their target price on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, December 20th. 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. Bank of America decreased their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays decreased their price objective on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Finally, Raymond James decreased their price objective on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Weatherford International currently has an average rating of “Moderate Buy” and an average target price of $109.25.

Weatherford International Trading Up 0.5 %

Shares of NASDAQ:WFRD opened at $67.63 on Monday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 1.48 and a beta of 0.60. Weatherford International has a 12 month low of $60.45 and a 12 month high of $135.00. The company’s fifty day simple moving average is $70.67 and its 200 day simple moving average is $85.04. The company has a quick ratio of 1.49, a current ratio of 2.80 and a debt-to-equity ratio of 1.26.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. As a group, research analysts forecast that Weatherford International will post 6.14 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Friday, February 21st. Weatherford International’s dividend payout ratio is presently 14.88%.

Insider Transactions at Weatherford International

In other news, CFO Arunava Mitra sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.57, for a total transaction of $675,700.00. Following the completion of the sale, the chief financial officer now owns 21,072 shares in the company, valued at approximately $1,423,835.04. This trade represents a 32.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the firm’s stock in a transaction dated 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,692 shares of company stock worth $6,207,725. 1.60% of the stock is owned by insiders.

Institutional Trading of Weatherford International

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its stake in shares of Weatherford International by 364.9% during the 3rd 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. Lindbrook Capital LLC raised its stake in Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after purchasing an additional 204 shares in the last quarter. Huntington National Bank raised its stake in Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after purchasing an additional 257 shares in the last quarter. nVerses Capital LLC acquired a new stake in Weatherford International in the 3rd quarter worth about $34,000. Finally, Zions Bancorporation N.A. acquired a new stake in Weatherford International in the 4th quarter worth about $29,000. Institutional investors and hedge funds 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.