Weatherford International (NASDAQ:WFRD) Given New $130.00 Price Target at Bank of America

Weatherford International (NASDAQ:WFRD) had its price target decreased by Bank of America from $145.00 to $130.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 40.01% from the company’s previous close.

A number of other research analysts have also recently issued reports on WFRD. Citigroup decreased their price objective on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Barclays boosted their price target on Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research note on Wednesday, July 24th. Finally, Raymond James lowered their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. Seven 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.com, the company has an average rating of “Buy” and a consensus price target of $148.25.

Weatherford International Price Performance

Shares of NASDAQ WFRD traded down $1.48 during midday trading on Monday, reaching $92.85. The company’s stock had a trading volume of 237,948 shares, compared to its average volume of 884,882. The company has a market cap of $6.79 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.67 and a beta of 0.58. 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 quick ratio of 1.47 and a current ratio of 1.99. The business’s 50 day moving average price is $97.29 and its two-hundred day moving average price is $112.18.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the business posted $1.12 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts forecast that Weatherford International will post 6.81 EPS for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently bought and sold shares of WFRD. Virtu Financial LLC bought a new position in shares of Weatherford International in the 4th quarter worth about $518,000. PNC Financial Services Group Inc. lifted its stake in Weatherford International by 86.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the company’s stock valued at $132,000 after buying an additional 628 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Weatherford International by 6.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 31,587 shares of the company’s stock worth $3,646,000 after buying an additional 1,910 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Weatherford International during the 1st quarter worth approximately $34,000. Finally, Ballentine Partners LLC bought a new stake in shares of Weatherford International in the 1st quarter valued at $253,000. Institutional investors and hedge funds 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.