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

Weatherford International (NASDAQ:WFRD) had its target price decreased by equities research analysts at Barclays from $147.00 to $105.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 43.70% from the company’s previous close.

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

Weatherford International Trading Up 2.0 %

Weatherford International stock traded up $1.45 during midday trading on Wednesday, reaching $73.07. 96,543 shares of the stock traded hands, compared to its average volume of 896,022. The firm has a market cap of $5.31 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a 50-day simple moving average of $83.46 and a two-hundred day simple moving average of $99.68. Weatherford International has a 12-month low of $71.13 and a 12-month high of $135.00.

Weatherford International (NASDAQ:WFRD) last posted 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. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. Research analysts expect that Weatherford International will post 6.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the business’s stock in a transaction on Friday, October 25th. The stock was 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. The trade was a 35.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weatherford International

Several institutional investors and hedge funds have recently made changes to their positions in WFRD. Farther Finance Advisors LLC lifted its holdings in shares of Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after purchasing an additional 281 shares in the last quarter. Fifth Third Bancorp lifted its stake in Weatherford International by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after buying an additional 85 shares in the last quarter. nVerses Capital LLC acquired a new stake in Weatherford International during the 3rd quarter valued at $34,000. Millburn Ridgefield Corp purchased a new position in Weatherford International during the third quarter worth $42,000. Finally, GAMMA Investing LLC raised its holdings in shares of Weatherford International by 36.9% in the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after acquiring an additional 141 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

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.