Barclays Cuts Weatherford International (NASDAQ:WFRD) Price Target to $85.00

Weatherford International (NASDAQ:WFRD) had its price objective decreased by Barclays from $92.00 to $85.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research firms have also recently commented on WFRD. Citigroup cut their target price on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Raymond James lowered their price target on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Piper Sandler lowered their price objective on Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Finally, Benchmark reduced their target price on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.75.

Weatherford International Stock Up 0.1 %

WFRD stock opened at $54.26 on Monday. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. The company has a 50-day moving average of $60.96 and a two-hundred day moving average of $74.12. Weatherford International has a 52-week low of $51.24 and a 52-week high of $135.00. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD) last released its 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 net margin of 9.18% and a return on equity of 40.65%. As a group, equities research analysts anticipate that Weatherford International will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.84%. Weatherford International’s dividend payout ratio is currently 14.88%.

Insider Buying and Selling at Weatherford International

In related news, CAO Desmond J. Mills sold 19,425 shares of Weatherford International stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the completion of the transaction, the chief accounting officer now directly owns 17,899 shares of the company’s stock, valued at $1,208,361.49. This trade represents a 52.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott C. Weatherholt sold 44,505 shares of the company’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 directly owns 125,019 shares in the company, valued at $8,272,507.23. This represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,692 shares of company stock valued at $6,207,725. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Weatherford International

Several institutional investors have recently bought and sold shares of WFRD. Lindbrook Capital LLC grew its holdings in shares of Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after purchasing an additional 204 shares during the last quarter. Huntington National Bank increased its position in Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock valued at $28,000 after acquiring an additional 257 shares in the last quarter. Zions Bancorporation N.A. bought a new position in shares of Weatherford International in the fourth quarter worth about $29,000. R Squared Ltd acquired a new position in shares of Weatherford International during the fourth quarter worth approximately $36,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Weatherford International during the third quarter valued at approximately $42,000. Institutional investors own 97.23% of the company’s stock.

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.