Weatherford International (NASDAQ:WFRD) Price Target Cut to $115.00 by Analysts at Citigroup

Weatherford International (NASDAQ:WFRD) had its price objective lowered by equities researchers at Citigroup from $130.00 to $115.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 40.48% from the company’s current price.

Several other research firms have also recently weighed in on WFRD. Evercore ISI decreased their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Benchmark restated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research note on Thursday, October 24th. Raymond James reduced their price target on shares of 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. Barclays dropped their target price on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Bank of America lowered their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $147.29.

Weatherford International Stock Performance

Shares of WFRD opened at $81.86 on Thursday. Weatherford International has a 52 week low of $77.00 and a 52 week high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. The stock has a market cap of $5.95 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.70 and a beta of 0.60. The business’s 50 day moving average price is $87.59 and its 200-day moving average price is $106.17.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.66 earnings per share. Equities research analysts anticipate that Weatherford International will post 6.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction on Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the transaction, the chief accounting officer now directly owns 11,680 shares of the company’s stock, valued at $932,764.80. This trade represents a 35.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David John Reed sold 6,805 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. 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

Several institutional investors have recently modified their holdings of WFRD. Pacer Advisors Inc. raised its holdings in Weatherford International by 551.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after buying an additional 1,219,553 shares during the period. FMR LLC raised its stake in shares of Weatherford International by 36.7% in the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after acquiring an additional 959,783 shares during the period. Boston Partners lifted its holdings in shares of Weatherford International by 19.3% in the 1st quarter. Boston Partners now owns 2,722,281 shares of the company’s stock worth $315,240,000 after acquiring an additional 439,700 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Weatherford International during the 2nd quarter worth about $51,287,000. Finally, Westwood Holdings Group Inc. grew its holdings in Weatherford International by 5,525.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 359,569 shares of the company’s stock valued at $41,501,000 after purchasing an additional 353,177 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

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.