Weatherford International (NASDAQ:WFRD) Price Target Lowered to $125.00 at Benchmark

Weatherford International (NASDAQ:WFRD) had its price objective lowered by Benchmark from $140.00 to $125.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 84.21% from the company’s current price.

WFRD has been the topic of a number of other reports. Evercore ISI reduced their target price 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. Citigroup reduced their price objective on shares of 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 dropped their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a report on Friday. Piper Sandler assumed coverage on Weatherford International in a research report on Thursday, December 19th. They set a “neutral” rating and a $87.00 price objective for the company. Finally, The Goldman Sachs Group lowered Weatherford International from a “buy” rating to a “neutral” rating and cut their target price for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.88.

Weatherford International Trading Up 3.8 %

Shares of WFRD traded up $2.50 during mid-day trading on Friday, reaching $67.86. The stock had a trading volume of 1,175,569 shares, compared to its average volume of 1,257,366. 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 $4.93 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 1.35 and a beta of 0.61. The business’s fifty day moving average is $71.99 and its 200 day moving average is $86.90. 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 released its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. On average, sell-side analysts predict that Weatherford International will post 6.66 EPS for the current fiscal year.

Insider Buying and Selling at Weatherford International

In related news, EVP David John Reed sold 4,762 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $72.66, for a total transaction of $346,006.92. Following the transaction, the executive vice president now owns 11,109 shares of the company’s stock, valued at $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the transaction, the executive vice president now owns 125,019 shares of the company’s stock, valued at $8,272,507.23. The trade was a 26.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

A number of large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in Weatherford International by 551.1% in the third quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after buying an additional 1,219,553 shares in the last quarter. FMR LLC increased its stake in Weatherford International by 36.7% in the 3rd quarter. FMR LLC now owns 3,573,003 shares of the company’s stock valued at $303,419,000 after purchasing an additional 959,783 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Weatherford International by 132.1% during the fourth quarter. Victory Capital Management Inc. now owns 728,266 shares of the company’s stock worth $52,166,000 after purchasing an additional 414,528 shares during the last quarter. Jennison Associates LLC boosted its position in Weatherford International by 30.6% during the third quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock worth $112,443,000 after purchasing an additional 310,259 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Weatherford International by 402.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,482 shares of the company’s stock valued at $27,555,000 after purchasing an additional 259,924 shares during the last quarter. 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.