Barclays Has Lowered Expectations for Weatherford International (NASDAQ:WFRD) Stock Price

Weatherford International (NASDAQ:WFRD) had its target price lowered by equities researchers at Barclays from $92.00 to $85.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 59.72% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on WFRD. Benchmark decreased their price objective on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 7th. Raymond James lowered their price objective on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group cut shares of 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 note on Friday, December 13th. Piper Sandler lowered their target price on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Finally, Citigroup cut their price objective on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Weatherford International currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.75.

Weatherford International Stock Up 0.2 %

WFRD stock traded up $0.12 during midday trading on Monday, reaching $53.22. The company had a trading volume of 127,006 shares, compared to its average volume of 1,022,141. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. Weatherford International has a 1 year low of $51.24 and a 1 year high of $135.00. The company has a 50 day moving average of $62.09 and a two-hundred day moving average of $74.78. The company has a market capitalization of $3.88 billion, a P/E ratio of 7.92, a PEG ratio of 1.65 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. On average, equities research analysts expect that Weatherford International will post 5.89 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Desmond J. Mills sold 19,425 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.51, for a total transaction of $1,311,381.75. Following the completion of the transaction, the chief accounting officer now directly owns 17,899 shares of the company’s stock, valued at $1,208,361.49. This trade represents a 52.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David John Reed sold 4,762 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $72.66, for a total transaction of $346,006.92. Following the transaction, the executive vice president now owns 11,109 shares of the company’s stock, valued at approximately $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,692 shares of company stock worth $6,207,725 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Xponance Inc. increased its stake in shares of Weatherford International by 1.0% during the fourth quarter. Xponance Inc. now owns 17,072 shares of the company’s stock worth $1,223,000 after purchasing an additional 167 shares during the period. Treasurer of the State of North Carolina increased its stake in Weatherford International by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company’s stock worth $2,273,000 after acquiring an additional 200 shares during the period. Lindbrook Capital LLC lifted its position in Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after purchasing an additional 204 shares during the period. Covestor Ltd lifted its holdings in shares of Weatherford International by 30.1% during the 4th quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $66,000 after acquiring an additional 214 shares during the period. Finally, Huntington National Bank raised its holdings in shares of Weatherford International by 190.4% during the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after buying an additional 257 shares in the last quarter. 97.23% of the stock is owned by 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.