Weatherford International (NASDAQ:WFRD) Given New $105.00 Price Target at Barclays

Weatherford International (NASDAQ:WFRD) had its price objective reduced by Barclays from $147.00 to $105.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Citigroup lowered their target price on Weatherford International from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Bank of America reduced their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Evercore ISI lowered their price objective on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $135.25.

Weatherford International Stock Performance

Shares of Weatherford International stock opened at $69.86 on Wednesday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The business has a 50-day moving average of $83.02 and a 200 day moving average of $99.47. Weatherford International has a 12 month low of $69.30 and a 12 month high of $135.00.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $1.66 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Weatherford International will post 6.85 earnings per share for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Wednesday, November 6th. Weatherford International’s payout ratio is 14.04%.

Insider Activity at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the transaction, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Weatherford International

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in Weatherford International by 551.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock worth $122,356,000 after purchasing an additional 1,219,553 shares during the period. FMR LLC boosted its stake in shares of Weatherford International by 36.7% during the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock worth $303,419,000 after buying an additional 959,783 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Weatherford International during the second quarter worth about $51,287,000. Jennison Associates LLC increased its position in Weatherford International by 30.6% in the 3rd quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after acquiring an additional 310,259 shares during the period. Finally, Marshall Wace LLP increased its position in Weatherford International by 89.0% in the 2nd quarter. Marshall Wace LLP now owns 612,242 shares of the company’s stock valued at $74,969,000 after acquiring an additional 288,290 shares during the period. 97.23% of the stock is 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.