Barclays Trims Weatherford International (NASDAQ:WFRD) Target Price to $154.00

Weatherford International (NASDAQ:WFRD) had its target price cut by Barclays from $165.00 to $154.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 67.92% from the stock’s previous close.

A number of other equities research analysts also recently commented on WFRD. Citigroup reduced their price objective 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. Bank of America reduced their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday. Raymond James dropped their price objective on 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, Benchmark reissued a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $146.88.

Weatherford International Stock Performance

Shares of NASDAQ:WFRD traded up $0.97 during trading on Wednesday, reaching $91.71. The company had a trading volume of 698,275 shares, compared to its average volume of 885,807. Weatherford International has a fifty-two week low of $82.16 and a fifty-two week high of $135.00. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. The stock’s fifty day moving average price is $96.89 and its 200 day moving average price is $111.85. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 0.67 and a beta of 0.58.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts predict that Weatherford International will post 6.72 EPS for the current year.

Insider Activity at Weatherford International

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

Institutional Trading of Weatherford International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its holdings in shares of Weatherford International by 86.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the company’s stock worth $132,000 after buying an additional 628 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Weatherford International by 6.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 31,587 shares of the company’s stock valued at $3,646,000 after acquiring an additional 1,910 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Weatherford International during the 1st quarter worth $34,000. Ballentine Partners LLC acquired a new stake in shares of Weatherford International during the first quarter worth $253,000. Finally, FCF Advisors LLC purchased a new stake in shares of Weatherford International in the first quarter valued at $818,000. Hedge funds and other 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.