Weatherford International (NASDAQ:WFRD) Price Target Cut to $97.00 by Analysts at Raymond James

Weatherford International (NASDAQ:WFRD) had its target price trimmed by Raymond James from $107.00 to $97.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a strong-buy rating on the stock.

Other equities research analysts have also issued reports about the stock. 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 report on Thursday, October 24th. Piper Sandler began coverage on Weatherford International in a report on Thursday, December 19th. They set a “neutral” rating and a $87.00 target price on the stock. Citigroup decreased their price target 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 price objective on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $132.00 to $98.00 in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Weatherford International presently has an average rating of “Moderate Buy” and an average target price of $109.88.

Weatherford International Stock Up 2.3 %

Weatherford International stock opened at $66.85 on Friday. The business’s 50-day simple moving average is $71.68 and its two-hundred day simple moving average is $86.45. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.80. The company has a market cap of $4.86 billion, a PE ratio of 9.95, a PEG ratio of 1.48 and a beta of 0.60. Weatherford International has a fifty-two week low of $60.45 and a fifty-two week high of $135.00.

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

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, February 21st. Weatherford International’s dividend payout ratio (DPR) is presently 14.88%.

Insider Buying and Selling

In related news, EVP Scott C. Weatherholt sold 44,505 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 125,019 shares in the company, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David John Reed sold 4,762 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the sale, the executive vice president now owns 11,109 shares of the company’s stock, valued at approximately $807,179.94. This represents a 30.00 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently made changes to their positions in WFRD. Virtu Financial LLC acquired a new position in Weatherford International in the 3rd quarter valued at about $571,000. Barclays PLC lifted its holdings in shares of Weatherford International by 59.4% during the third quarter. Barclays PLC now owns 31,349 shares of the company’s stock worth $2,663,000 after purchasing an additional 11,680 shares during the period. Dynamic Technology Lab Private Ltd grew its position in Weatherford International by 1,138.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company’s stock valued at $2,728,000 after buying an additional 29,530 shares during the last quarter. New York State Common Retirement Fund increased its stake in Weatherford International by 6.8% in the 3rd quarter. New York State Common Retirement Fund now owns 203,106 shares of the company’s stock valued at $17,248,000 after buying an additional 13,007 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Weatherford International by 67.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 143,900 shares of the company’s stock worth $12,220,000 after buying an additional 57,866 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other 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.