Weatherford International (NASDAQ:WFRD) Stock Price Target Lowered at Citigroup

Weatherford International (NASDAQ:WFRD) had its price target reduced by research analysts at Citigroup from $112.00 to $110.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s price target suggests a potential upside of 23.57% from the company’s current price.

Several other analysts have also issued reports on the stock. Raymond James Financial dropped their price target on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. UBS Group lowered their price target on shares of Weatherford International from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday. The Goldman Sachs Group cut their target price on Weatherford International from $106.00 to $94.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research report on Monday, October 12th. Finally, Wall Street Zen downgraded shares of Weatherford International from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.57.

Weatherford International Stock Up 2.5%

Shares of NASDAQ WFRD traded up $2.17 during mid-day trading on Monday, reaching $89.02. 379,710 shares of the company’s stock were exchanged, compared to its average volume of 1,238,283. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.47 and a beta of 1.05. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $85.48 and a 200 day simple moving average of $92.16. Weatherford International has a twelve month low of $68.49 and a twelve month high of $113.15.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Weatherford International had a return on equity of 22.39% and a net margin of 8.64%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, equities analysts expect that Weatherford International will post 5.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jacqueline Mutschler sold 4,094 shares of Weatherford International stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $90.50, for a total transaction of $370,507.00. Following the transaction, the director owned 29,093 shares of the company’s stock, valued at $2,632,916.50. The trade was a 12.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.08% of the company’s stock.

Institutional Trading of Weatherford International

A number of institutional investors and hedge funds have recently modified their holdings of WFRD. Canoe Financial LP acquired a new stake in Weatherford International during the first quarter valued at approximately $50,052,000. First Trust Advisors LP grew its position in Weatherford International by 12.4% in the first quarter. First Trust Advisors LP now owns 1,760,467 shares of the company’s stock worth $166,505,000 after buying an additional 194,654 shares during the last quarter. Readystate Asset Management LP acquired a new position in Weatherford International in the second quarter worth approximately $15,269,000. Bank of New York Mellon Corp grew its position in Weatherford International by 15.5% in the first quarter. Bank of New York Mellon Corp now owns 794,732 shares of the company’s stock worth $75,166,000 after buying an additional 106,716 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Weatherford International by 193.7% in the first quarter. Sei Investments Co. now owns 149,935 shares of the company’s stock valued at $14,181,000 after buying an additional 98,882 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Company Profile

Weatherford International plc is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the life cycle of a well, from drilling and formation evaluation to completion, production, intervention and abandonment.

The company’s product and service portfolio includes drilling systems, well logging and evaluation tools, completion equipment, artificial-lift systems, production optimization technologies, well intervention services and digital solutions.