Weatherford International (NASDAQ:WFRD) Given New $85.00 Price Target at Barclays

Weatherford International (NASDAQ:WFRD) had its price objective reduced by Barclays from $92.00 to $85.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 59.72% from the company’s current price.

A number of other equities research analysts have also commented on the company. The Goldman Sachs Group lowered Weatherford International from a “buy” rating to a “neutral” rating and lowered their price target for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Citigroup cut their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Piper Sandler lowered their target price on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Benchmark lowered their price target on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Raymond James reduced their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $106.75.

Weatherford International Trading Up 0.2 %

NASDAQ WFRD traded up $0.12 on Monday, reaching $53.22. The company had a trading volume of 127,006 shares, compared to its average volume of 1,022,141. The business has a 50 day moving average of $62.09 and a two-hundred day moving average of $74.78. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 7.92, a P/E/G ratio of 1.65 and a beta of 0.61. Weatherford International has a fifty-two week low of $51.24 and a fifty-two week high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. Analysts forecast that Weatherford International will post 5.89 EPS for the current year.

Insider Activity at Weatherford International

In other news, CFO Arunava Mitra sold 10,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.57, for a total transaction of $675,700.00. Following the completion of the sale, the chief financial officer now owns 21,072 shares of the company’s stock, valued at $1,423,835.04. This represents a 32.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was 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 directly owns 11,109 shares in the company, valued at approximately $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,692 shares of company stock worth $6,207,725 over the last 90 days. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors have recently bought and sold shares of WFRD. Capital Research Global Investors grew its position in shares of Weatherford International by 295.9% during the fourth quarter. Capital Research Global Investors now owns 5,945,755 shares of the company’s stock valued at $425,894,000 after purchasing an additional 4,443,823 shares in the last quarter. Invesco Ltd. purchased a new stake in Weatherford International in the fourth quarter worth $104,287,000. Norges Bank purchased a new stake in Weatherford International in the 4th quarter valued at about $65,678,000. Fuller & Thaler Asset Management Inc. grew its stake in Weatherford International by 181.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company’s stock worth $93,334,000 after purchasing an additional 840,456 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Weatherford International by 132.1% during the fourth quarter. Victory Capital Management Inc. now owns 728,266 shares of the company’s stock valued at $52,166,000 after buying an additional 414,528 shares during the period. Hedge funds and other institutional investors 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.