Weatherford International (NASDAQ:WFRD) Price Target Lowered to $110.00 at Citigroup

Weatherford International (NASDAQ:WFRD) had its price objective cut by Citigroup from $115.00 to $110.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

WFRD has been the topic of several other reports. Benchmark reissued a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Bank of America cut their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Evercore ISI decreased their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Barclays lowered their price target on Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $146.57.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $77.63 on Monday. The business has a fifty day simple moving average of $85.09 and a 200 day simple moving average of $101.45. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. Weatherford International has a 1 year low of $76.84 and a 1 year high of $135.00. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 0.65 and a beta of 0.58.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.66 EPS. As a group, sell-side analysts predict that Weatherford International will post 6.85 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. Weatherford International’s dividend payout ratio is 14.04%.

Insider Buying and Selling at Weatherford International

In related news, CAO Desmond J. Mills sold 6,531 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the transaction, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This represents a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

Several institutional investors and hedge funds have recently bought and sold shares of WFRD. Farther Finance Advisors LLC lifted its holdings in shares of Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after acquiring an additional 281 shares during the period. nVerses Capital LLC bought a new position in Weatherford International during the third quarter worth about $34,000. Millburn Ridgefield Corp bought a new position in Weatherford International during the third quarter worth about $42,000. Fifth Third Bancorp boosted its holdings in Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after purchasing an additional 85 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock valued at $44,000 after purchasing an additional 141 shares in the last quarter. 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.