Citigroup Issues Pessimistic Forecast for Weatherford International (NASDAQ:WFRD) Stock Price

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

Other analysts have also issued reports about the company. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research note on Thursday, October 24th. 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 report on Friday, October 25th. Evercore ISI dropped their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Bank of America dropped their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $146.57.

Weatherford International Price Performance

NASDAQ:WFRD opened at $77.63 on Monday. The firm has a market cap of $5.64 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.65 and a beta of 0.58. Weatherford International has a 12 month low of $76.84 and a 12 month high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. The company’s 50-day moving average price is $85.09 and its two-hundred day moving average price is $101.45.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.65 by $0.41. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. Weatherford International’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 EPS. On average, equities analysts anticipate that Weatherford International will post 6.85 EPS for the current fiscal year.

Weatherford International Dividend Announcement

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

Insiders Place Their Bets

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new stake in shares of Weatherford International during the second quarter worth approximately $20,584,000. Cetera Investment Advisers bought a new stake in Weatherford International in the 1st quarter valued at $2,132,000. Merewether Investment Management LP grew its holdings in Weatherford International by 38.8% in the 2nd quarter. Merewether Investment Management LP now owns 549,803 shares of the company’s stock valued at $67,323,000 after buying an additional 153,800 shares in the last quarter. Millennium Management LLC increased its position in Weatherford International by 33.0% during the 2nd quarter. Millennium Management LLC now owns 631,862 shares of the company’s stock worth $77,372,000 after buying an additional 156,756 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its position in Weatherford International by 1,138.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company’s stock worth $2,728,000 after buying an additional 29,530 shares during the period. 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.