Weatherford International (NASDAQ:WFRD) Price Target Lowered to $147.00 at Barclays

Weatherford International (NASDAQ:WFRD) had its price target reduced by Barclays from $154.00 to $147.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 83.43% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a report on Thursday. Evercore ISI reduced their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday. Bank of America reduced their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Raymond James reduced their price objective on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Finally, Citigroup reduced their price objective on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $144.88.

Weatherford International Stock Up 3.7 %

Weatherford International stock traded up $2.83 during mid-day trading on Friday, reaching $80.14. 1,057,503 shares of the company’s stock were exchanged, compared to its average volume of 908,075. The company has a market cap of $5.86 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.86 and a beta of 0.58. Weatherford International has a twelve month low of $77.29 and a twelve month high of $135.00. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average of $93.88 and a 200-day moving average of $110.16.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. The company had revenue of $1.41 billion for 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 49.11%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.66 EPS. Sell-side analysts expect that Weatherford International will post 6.56 EPS for the current year.

Insider Activity at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Hawaiian Bank purchased a new position in Weatherford International during the 2nd quarter worth $1,653,000. Allspring Global Investments Holdings LLC grew its position in Weatherford International by 669.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company’s stock worth $1,872,000 after purchasing an additional 14,112 shares during the last quarter. Entropy Technologies LP grew its position in Weatherford International by 79.7% during the 1st quarter. Entropy Technologies LP now owns 11,985 shares of the company’s stock worth $1,383,000 after purchasing an additional 5,315 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Weatherford International by 107.2% in the first quarter. Sei Investments Co. now owns 23,527 shares of the company’s stock valued at $2,715,000 after acquiring an additional 12,170 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Weatherford International by 2.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,409,020 shares of the company’s stock valued at $739,730,000 after acquiring an additional 182,120 shares in the last quarter. 97.23% of the stock is 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.