Weatherford International (NASDAQ:WFRD) PT Lowered to $130.00

Weatherford International (NASDAQ:WFRD) had its price target lowered by investment analysts at Citigroup from $155.00 to $130.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 54.65% from the company’s current price.

A number of other analysts have also recently issued reports on WFRD. Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a report on Wednesday, July 24th. Barclays boosted their price objective on shares of Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Raymond James reduced their target price on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Finally, Bank of America increased their price target on Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Seven research 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, the stock presently has an average rating of “Buy” and a consensus target price of $150.75.

Weatherford International Stock Down 3.5 %

Shares of WFRD opened at $84.06 on Wednesday. Weatherford International has a fifty-two week low of $82.16 and a fifty-two week high of $135.00. The company’s fifty day moving average is $103.89 and its two-hundred day moving average is $114.11. The firm has a market cap of $6.15 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. Weatherford International’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 EPS. Analysts forecast that Weatherford International will post 6.81 earnings per share for the current year.

Insider Transactions at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC acquired a new position in Weatherford International in the second quarter worth about $16,178,000. Truist Financial Corp grew its position in shares of Weatherford International by 29.4% in the 2nd quarter. Truist Financial Corp now owns 4,481 shares of the company’s stock worth $549,000 after acquiring an additional 1,017 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Weatherford International in the 2nd quarter valued at approximately $10,535,000. B. Riley Wealth Advisors Inc. raised its position in shares of Weatherford International by 4.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 5,293 shares of the company’s stock valued at $648,000 after acquiring an additional 210 shares in the last quarter. Finally, Wallace Advisory Group LLC acquired a new stake in shares of Weatherford International during the 2nd quarter valued at approximately $244,000. Institutional investors own 97.23% of the company’s stock.

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.