Weatherford International (NASDAQ:WFRD) Price Target Lowered to $95.00 at Citigroup

Weatherford International (NASDAQ:WFRD) had its target price lowered by Citigroup from $110.00 to $95.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 39.03% from the company’s previous close.

Several other research firms have also recently issued reports on WFRD. Barclays lowered their price objective on Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and lowered their target price for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Bank of America dropped their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Piper Sandler started coverage on shares of Weatherford International in a research report on Thursday. They issued a “neutral” rating and a $87.00 price objective for the company. Finally, Benchmark reissued a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.25.

Weatherford International Trading Down 0.3 %

Shares of Weatherford International stock traded down $0.23 during mid-day trading on Friday, hitting $68.33. The stock had a trading volume of 298,386 shares, compared to its average volume of 898,333. The firm has a market cap of $4.96 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average of $82.51 and a two-hundred day moving average of $99.25. Weatherford International has a 12-month low of $67.75 and a 12-month high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts forecast that Weatherford International will post 6.85 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. 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 Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Weatherford International by 36.7% in the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after acquiring an additional 959,783 shares during the period. State Street Corp increased its holdings in shares of Weatherford International by 3.1% in the 3rd quarter. State Street Corp now owns 2,267,484 shares of the company’s stock worth $192,555,000 after acquiring an additional 68,553 shares during the period. Pacer Advisors Inc. lifted its position in Weatherford International by 551.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after purchasing an additional 1,219,553 shares during the last quarter. Jennison Associates LLC boosted its stake in Weatherford International by 30.6% during the 3rd quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after purchasing an additional 310,259 shares during the period. Finally, Renaissance Technologies LLC grew its position in Weatherford International by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 657,953 shares of the company’s stock worth $80,566,000 after purchasing an additional 38,700 shares during the last quarter. 97.23% of the stock is currently 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.