Weatherford International (NASDAQ:WFRD) Given New $107.00 Price Target at The Goldman Sachs Group

Weatherford International (NASDAQ:WFRD) had its price target raised by The Goldman Sachs Group from $83.00 to $107.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

WFRD has been the subject of several other reports. Wall Street Zen downgraded Weatherford International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Piper Sandler lifted their price objective on shares of Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Zacks Research cut shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, January 21st. Finally, Barclays lowered their price target on Weatherford International from $111.00 to $109.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.50.

Weatherford International Stock Down 2.1%

Shares of NASDAQ:WFRD opened at $95.80 on Wednesday. Weatherford International has a 1 year low of $36.74 and a 1 year high of $110.57. The business has a 50 day simple moving average of $93.37 and a two-hundred day simple moving average of $77.60. The firm has a market capitalization of $6.87 billion, a PE ratio of 16.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.19 and a quick ratio of 1.65.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.49. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities analysts predict that Weatherford International will post 5.89 EPS for the current year.

Weatherford International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 6th will be issued a $0.275 dividend. The ex-dividend date is Friday, February 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. This is an increase from Weatherford International’s previous quarterly dividend of $0.25. Weatherford International’s dividend payout ratio (DPR) is presently 18.55%.

Insider Activity at Weatherford International

In related news, CEO Girish Saligram sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $105.50, for a total value of $10,550,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristin Ruzicka sold 2,129 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $77.25, for a total value of $164,465.25. Following the sale, the executive vice president owned 15,673 shares of the company’s stock, valued at approximately $1,210,739.25. This represents a 11.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors have recently added to or reduced their stakes in WFRD. Smartleaf Asset Management LLC raised its holdings in Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Weatherford International in the 3rd quarter worth approximately $26,000. Los Angeles Capital Management LLC bought a new position in shares of Weatherford International during the 4th quarter worth approximately $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Weatherford International during the second quarter valued at approximately $27,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.