Benchmark Has Lowered Expectations for Weatherford International (NASDAQ:WFRD) Stock Price

Weatherford International (NASDAQ:WFRD) had its target price decreased by analysts at Benchmark from $140.00 to $125.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 84.21% from the stock’s previous close.

WFRD has been the topic of a number of other research reports. Citigroup cut their target price on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Piper Sandler initiated coverage on Weatherford International in a report on Thursday, December 19th. They issued a “neutral” rating and a $87.00 price objective for the company. Bank of America decreased their target price on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Raymond James reduced their price objective on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.88.

Weatherford International Trading Up 3.8 %

WFRD stock traded up $2.50 on Friday, hitting $67.86. 1,175,569 shares of the company were exchanged, compared to its average volume of 1,257,366. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 1.35 and a beta of 0.61. The business’s fifty day moving average is $71.99 and its two-hundred day moving average is $86.90. Weatherford International has a twelve month low of $60.45 and a twelve month high of $135.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD) last issued 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 9.65% and a return on equity of 46.25%. As a group, research analysts forecast that Weatherford International will post 6.66 earnings per share for the current year.

Insider Buying and Selling at Weatherford International

In related news, EVP David John Reed sold 4,762 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 11,109 shares in the company, valued at $807,179.94. This represents a 30.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Scott C. Weatherholt sold 44,505 shares of the business’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 in the company, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Weatherford International

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