Citigroup Lowers Weatherford International (NASDAQ:WFRD) Price Target to $115.00

Weatherford International (NASDAQ:WFRD) had its price objective cut by investment analysts at Citigroup from $130.00 to $115.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 40.48% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Raymond James lowered their price target on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Evercore ISI cut their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Benchmark reiterated 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 for the company in a research report on Monday, October 14th. Finally, Barclays decreased their price objective on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $147.29.

Weatherford International Trading Down 2.0 %

Shares of Weatherford International stock opened at $81.86 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. The stock has a market capitalization of $5.95 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.70 and a beta of 0.60. Weatherford International has a 52-week low of $77.00 and a 52-week high of $135.00. The stock’s 50-day simple moving average is $87.59 and its 200 day simple moving average is $106.17.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $1.66 EPS. Weatherford International’s revenue was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Weatherford International will post 6.91 EPS for the current year.

Insider Activity

In related news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at $932,764.80. This represents a 35.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David John Reed sold 6,805 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. bought a new position in shares of Weatherford International during the first quarter valued at approximately $206,000. Sei Investments Co. boosted its stake in shares of Weatherford International by 107.2% during the 1st quarter. Sei Investments Co. now owns 23,527 shares of the company’s stock valued at $2,715,000 after purchasing an additional 12,170 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Weatherford International by 121.0% during the first quarter. Russell Investments Group Ltd. now owns 92,068 shares of the company’s stock valued at $10,626,000 after buying an additional 50,409 shares during the period. ProShare Advisors LLC lifted its holdings in Weatherford International by 4.8% in the first quarter. ProShare Advisors LLC now owns 16,329 shares of the company’s stock worth $1,885,000 after buying an additional 741 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in Weatherford International during the 1st quarter valued at approximately $24,527,000. Hedge funds and other institutional investors 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.