Barclays Cuts Weatherford International (NASDAQ:WFRD) Price Target to $92.00

Weatherford International (NASDAQ:WFRD) had its price target decreased by equities researchers at Barclays from $100.00 to $92.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 36.03% from the company’s current price.

Several other research firms have also recently issued reports on WFRD. Citigroup dropped their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Raymond James cut their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 7th. Evercore ISI reduced their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. The Goldman Sachs Group cut 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. Finally, Benchmark reduced their price objective on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 7th. 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. According to data from MarketBeat.com, Weatherford International currently has a consensus rating of “Moderate Buy” and an average target price of $107.63.

Weatherford International Price Performance

NASDAQ:WFRD opened at $67.63 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.80 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average price is $70.67 and its 200 day moving average price is $85.04. Weatherford International has a 52-week low of $60.45 and a 52-week high of $135.00. The firm has a market cap of $4.91 billion, a P/E ratio of 10.06, a PEG ratio of 1.48 and a beta of 0.60.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. As a group, sell-side analysts predict that Weatherford International will post 6.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Desmond J. Mills sold 19,425 shares of Weatherford International stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the completion of the sale, the chief accounting officer now directly owns 17,899 shares in the company, valued at $1,208,361.49. The trade was a 52.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David John Reed sold 4,762 shares of the business’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 sale, the executive vice president now directly owns 11,109 shares of the company’s stock, valued at approximately $807,179.94. The trade was a 30.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,692 shares of company stock worth $6,207,725 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Several institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position 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 period. Lindbrook Capital LLC raised its holdings in Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares during the period. Huntington National Bank lifted its position in Weatherford International by 190.4% during the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after acquiring an additional 257 shares during the last quarter. nVerses Capital LLC bought a new stake in Weatherford International during the third quarter valued at about $34,000. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Weatherford International in the fourth quarter valued at about $29,000. 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.