Weatherford International (NASDAQ:WFRD) Price Target Cut to $158.00

Weatherford International (NASDAQ:WFRD) had its target price lowered by equities researchers at Raymond James from $161.00 to $158.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ target price would suggest a potential upside of 30.33% from the stock’s current price.

Several other brokerages also recently weighed in on WFRD. Piper Sandler upped their price target on Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Bank of America upped their target price on shares of Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Barclays lifted their price target on shares of Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday. Benchmark restated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a report on Wednesday. Finally, Citigroup assumed coverage on shares of Weatherford International in a research note on Tuesday, May 14th. They set a “buy” rating and a $155.00 target price for the company. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $153.88.

Weatherford International Stock Down 0.3 %

Shares of WFRD stock traded down $0.32 during trading on Thursday, reaching $121.23. The company’s stock had a trading volume of 1,201,663 shares, compared to its average volume of 864,157. Weatherford International has a 1-year low of $78.53 and a 1-year high of $135.00. The stock’s 50-day moving average price is $120.66 and its 200 day moving average price is $112.99. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 0.89 and a beta of 0.64. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.84 and a quick ratio of 1.37.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 53.86%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the business earned $1.12 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts anticipate that Weatherford International will post 7.1 EPS for the current year.

Institutional Trading of Weatherford International

A number of large investors have recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC purchased a new stake in Weatherford International in the second quarter valued at approximately $253,000. Fifth Third Bancorp raised its position in Weatherford International by 31.0% in 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 last quarter. Raymond James & Associates grew its position in Weatherford International by 25.7% during the 2nd quarter. Raymond James & Associates now owns 97,101 shares of the company’s stock worth $11,890,000 after purchasing an additional 19,853 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Weatherford International in the second quarter valued at $223,000. Finally, Portside Wealth Group LLC acquired a new position in Weatherford International in the second quarter valued at $364,000. 97.23% of the stock is owned by institutional investors and hedge funds.

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.