Weatherford International (NASDAQ:WFRD) Stock Gets Price Target Reduction from Barclays

Weatherford International (NASDAQ:WFRD) had its target price lowered by investment analysts at Barclays from $151.00 to $148.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 98.82% from the company’s current price.

A number of other equities analysts have also commented on WFRD. Zacks Research lowered shares of Weatherford International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group cut their price objective on shares of Weatherford International from $106.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday. UBS Group cut their price objective on shares of Weatherford International from $120.00 to $116.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research report on Monday. Finally, Wall Street Zen cut shares of Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Weatherford International currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.86.

Weatherford International Stock Performance

WFRD stock traded down $1.01 during trading hours on Thursday, hitting $74.44. 129,857 shares of the stock were exchanged, compared to its average volume of 1,226,865. Weatherford International has a 12 month low of $61.75 and a 12 month high of $113.15. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $5.32 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.40 and a beta of 1.05. The company has a 50-day simple moving average of $87.11 and a two-hundred day simple moving average of $92.87.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $1.87 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. On average, analysts forecast that Weatherford International will post 5.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Neal P. Goldman sold 16,000 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $84.84, for a total value of $1,357,440.00. Following the transaction, the director owned 12,187 shares in the company, valued at approximately $1,033,945.08. This trade represents a 56.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Duster, IV sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total value of $516,540.00. Following the completion of the transaction, the director directly owned 11,187 shares of the company’s stock, valued at approximately $963,088.83. This trade represents a 34.91% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 26,094 shares of company stock worth $2,244,487. 2.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weatherford International

A number of large investors have recently bought and sold shares of WFRD. First Trust Advisors LP raised its position in shares of Weatherford International by 12.4% in the 1st quarter. First Trust Advisors LP now owns 1,760,467 shares of the company’s stock valued at $166,505,000 after buying an additional 194,654 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Weatherford International by 15.5% during the 1st quarter. Bank of New York Mellon Corp now owns 794,732 shares of the company’s stock worth $75,166,000 after acquiring an additional 106,716 shares during the period. Gotham Asset Management LLC lifted its holdings in shares of Weatherford International by 8.1% during the 4th quarter. Gotham Asset Management LLC now owns 849,273 shares of the company’s stock worth $66,464,000 after acquiring an additional 63,445 shares during the period. Canoe Financial LP acquired a new stake in shares of Weatherford International during the 1st quarter worth approximately $50,052,000. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Weatherford International during the 4th quarter worth approximately $46,899,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

About Weatherford International

Weatherford International plc is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the exploration, drilling, completion, production and intervention stages of the well life cycle, helping energy companies develop and manage onshore and offshore assets.

The company’s portfolio includes drilling and formation-evaluation services, well construction and completion technologies, production optimization, artificial-lift systems, well intervention and pressure-control services.