Raymond James Cuts Weatherford International (NASDAQ:WFRD) Price Target to $97.00

Weatherford International (NASDAQ:WFRD) had its price objective decreased by Raymond James from $107.00 to $97.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ target price suggests a potential upside of 43.59% from the stock’s previous close.

WFRD has been the subject of a number of other reports. Citigroup dropped 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. Evercore ISI dropped their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Bank of America dropped their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Benchmark reissued a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Weatherford International currently has an average rating of “Moderate Buy” and a consensus target price of $113.63.

Weatherford International Stock Performance

WFRD traded up $2.20 during trading on Friday, hitting $67.56. The stock had a trading volume of 770,192 shares, compared to its average volume of 1,243,455. The firm has a market cap of $4.91 billion, a PE ratio of 9.48, a P/E/G ratio of 1.35 and a beta of 0.61. Weatherford International has a 12 month low of $60.45 and a 12 month high of $135.00. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a 50 day simple moving average of $71.99 and a 200-day simple moving average of $86.90.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. Analysts expect that Weatherford International will post 6.66 EPS for the current year.

Insider Activity

In other news, EVP David John Reed sold 4,762 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the transaction, the executive vice president now owns 11,109 shares in the company, valued at $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott C. Weatherholt sold 44,505 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the completion of the transaction, the executive vice president now owns 125,019 shares of the company’s stock, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in Weatherford International by 364.9% during the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after purchasing an additional 281 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in 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. nVerses Capital LLC acquired a new position in Weatherford International during the third quarter worth $34,000. Millburn Ridgefield Corp acquired a new position in Weatherford International during the third quarter worth $42,000. Finally, R Squared Ltd acquired a new position in Weatherford International during the fourth quarter worth $36,000. Institutional investors and hedge funds 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.