Weatherford International (NASDAQ:WFRD) PT Lowered to $142.00 at Evercore ISI

Weatherford International (NASDAQ:WFRD) had its target price dropped by equities research analysts at Evercore ISI from $149.00 to $142.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 79.97% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Raymond James lowered their price objective on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research note on Thursday. Barclays cut their price objective on Weatherford International from $165.00 to $154.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Bank of America decreased their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Citigroup dropped their price target on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. 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, Weatherford International presently has a consensus rating of “Buy” and a consensus price target of $145.75.

Weatherford International Price Performance

WFRD stock traded down $2.26 during midday trading on Thursday, reaching $78.90. The stock had a trading volume of 343,403 shares, compared to its average volume of 901,671. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 1.31. The company’s fifty day simple moving average is $94.51 and its 200 day simple moving average is $110.39. Weatherford International has a 52-week low of $78.59 and a 52-week high of $135.00. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data 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 firm 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 49.11%. Weatherford International’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $1.66 earnings per share. As a group, sell-side analysts predict that Weatherford International will post 6.56 earnings per share for the current fiscal year.

Insider Activity at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently made changes to their positions in WFRD. Legacy Wealth Asset Management LLC grew its position in Weatherford International by 7.3% during the third quarter. Legacy Wealth Asset Management LLC now owns 2,997 shares of the company’s stock worth $255,000 after buying an additional 203 shares during the period. Net Worth Advisory Group purchased a new stake in Weatherford International during the third quarter worth $233,000. nVerses Capital LLC acquired a new stake in Weatherford International in the third quarter valued at $34,000. Oliver Luxxe Assets LLC increased its position in shares of Weatherford International by 80.8% in the third quarter. Oliver Luxxe Assets LLC now owns 20,971 shares of the company’s stock valued at $1,781,000 after buying an additional 9,372 shares in the last quarter. Finally, Viking Fund Management LLC acquired a new position in shares of Weatherford International during the 3rd quarter worth $1,783,000. 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.