Weatherford International (NASDAQ:WFRD) Stock Gets Price Target Cut from Citigroup

Weatherford International (NASDAQ:WFRD) had its price target decreased by Citigroup from $112.00 to $110.00 in a research note issued to investors on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research note on Monday, October 12th. Barclays dropped their price target on shares of Weatherford International from $148.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday, October 22nd. Royal Bank Of Canada dropped their price target on shares of Weatherford International from $124.00 to $123.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. Raymond James Financial cut their price target on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Finally, The Goldman Sachs Group reduced their price objective on shares of Weatherford International from $106.00 to $94.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Weatherford International has an average rating of “Moderate Buy” and a consensus target price of $115.57.

Weatherford International Stock Down 0.9%

Shares of NASDAQ:WFRD opened at $88.81 on Monday. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.47 and a beta of 1.05. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.61. Weatherford International has a 12-month low of $68.49 and a 12-month high of $113.15. The business’s 50 day moving average is $85.20 and its 200 day moving average is $92.83.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.33. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Weatherford International had a return on equity of 22.39% and a net margin of 8.64%. Weatherford International’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 earnings per share. On average, sell-side analysts forecast that Weatherford International will post 5.57 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 6th will be given a $0.2750 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.10 annualized dividend and a yield of 1.2%. Weatherford International’s payout ratio is currently 19.61%.

Insider Transactions at Weatherford International

In other Weatherford International news, Director Jacqueline Mutschler sold 4,094 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $90.50, for a total value of $370,507.00. Following the completion of the transaction, the director owned 29,093 shares in the company, valued at $2,632,916.50. This represents a 12.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Weatherford International

Large investors have recently made changes to their positions in the business. IFP Advisors Inc boosted its holdings in shares of Weatherford International by 72.0% in the 2nd quarter. IFP Advisors Inc now owns 313 shares of the company’s stock worth $26,000 after buying an additional 131 shares during the last quarter. Plato Investment Management Ltd bought a new position in Weatherford International during the second quarter valued at about $38,000. Summit Securities Group LLC purchased a new stake in Weatherford International during the first quarter worth about $53,000. EverSource Wealth Advisors LLC increased its holdings in Weatherford International by 32.8% during the first quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $88,000 after buying an additional 231 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Weatherford International by 31.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,770 shares of the company’s stock worth $144,000 after buying an additional 420 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

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 life cycle of a well, from drilling and formation evaluation to completion, production, intervention and abandonment.

The company’s product and service portfolio includes drilling systems, well logging and evaluation tools, completion equipment, artificial-lift systems, production optimization technologies, well intervention services and digital solutions.