Barclays Has Lowered Expectations for Weatherford International (NASDAQ:WFRD) Stock Price

Weatherford International (NASDAQ:WFRD) had its price objective lowered by equities research analysts at Barclays from $147.00 to $105.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 43.70% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Citigroup dropped their price objective on shares of Weatherford International from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Evercore ISI cut their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research report on Thursday, October 24th. Bank of America reduced their target price on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $132.00 to $98.00 in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $135.25.

Weatherford International Trading Up 2.0 %

Shares of NASDAQ:WFRD traded up $1.45 during trading hours on Wednesday, hitting $73.07. 96,543 shares of the company’s stock traded hands, compared to its average volume of 896,022. The firm has a market capitalization of $5.31 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. The business has a fifty day moving average price of $83.46 and a 200-day moving average price of $99.68. Weatherford International has a 1 year low of $71.13 and a 1 year high of $135.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company posted $1.66 EPS. Weatherford International’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts expect that Weatherford International will post 6.85 earnings per share for the current year.

Insider Buying and Selling at Weatherford International

In other news, CAO Desmond J. Mills sold 6,531 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the transaction, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. The trade was a 35.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

A number of institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in shares of Weatherford International by 551.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock worth $122,356,000 after buying an additional 1,219,553 shares during the last quarter. FMR LLC increased its stake in Weatherford International by 36.7% during the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock worth $303,419,000 after acquiring an additional 959,783 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Weatherford International in the second quarter valued at $51,287,000. Jennison Associates LLC lifted its stake in shares of Weatherford International by 30.6% in the 3rd quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after purchasing an additional 310,259 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Weatherford International by 89.0% during the 2nd quarter. Marshall Wace LLP now owns 612,242 shares of the company’s stock worth $74,969,000 after purchasing an additional 288,290 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other 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.