Barclays Cuts Weatherford International (NASDAQ:WFRD) Price Target to $151.00

Weatherford International (NASDAQ:WFRD) had its target price reduced by Barclays from $154.00 to $151.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

WFRD has been the subject of several other reports. Raymond James Financial lowered their price target on Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Wall Street Zen cut Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Zacks Research downgraded Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Weiss Ratings lowered Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, Piper Sandler raised their target price on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.44.

Weatherford International Price Performance

Weatherford International stock opened at $88.68 on Friday. Weatherford International has a 52-week low of $52.70 and a 52-week high of $113.15. The firm has a fifty day moving average of $93.26 and a 200-day moving average of $95.89. The firm has a market capitalization of $6.36 billion, a P/E ratio of 17.49, a PEG ratio of 1.12 and a beta of 0.86. The company has a quick ratio of 1.77, a current ratio of 2.34 and a debt-to-equity ratio of 0.81.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, July 21st. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The business’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.87 EPS. As a group, analysts predict that Weatherford International will post 5.42 EPS for the current year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, August 6th. Weatherford International’s dividend payout ratio is 21.70%.

Institutional Trading of Weatherford International

Several institutional investors have recently added to or reduced their stakes in WFRD. Smartleaf Asset Management LLC grew its holdings in Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after acquiring an additional 178 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Weatherford International in the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Weatherford International by 83.5% during the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after purchasing an additional 253 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Weatherford International during the fourth quarter worth about $39,000. Finally, Johnson Financial Group Inc. acquired a new position in Weatherford International in the third quarter worth about $52,000. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.