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

Weatherford International (NASDAQ:WFRD) had its target price decreased by equities research analysts at Barclays from $100.00 to $92.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 36.03% from the company’s previous close.

A number of other research firms also recently commented on WFRD. Evercore ISI decreased their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $132.00 to $98.00 in a report on Friday, December 13th. Citigroup lowered their price target on Weatherford International from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, December 20th. Piper Sandler reduced their price objective on Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Raymond James decreased their price objective on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Weatherford International presently has an average rating of “Moderate Buy” and a consensus target price of $107.63.

Weatherford International Price Performance

WFRD stock opened at $67.63 on Thursday. The stock’s 50 day moving average is $70.67 and its two-hundred day moving average is $85.04. Weatherford International has a 52-week low of $60.45 and a 52-week high of $135.00. The company has a market capitalization of $4.91 billion, a PE ratio of 10.06, a P/E/G ratio of 1.48 and a beta of 0.60. The company has a quick ratio of 1.49, a current ratio of 2.80 and a debt-to-equity ratio of 1.26.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. Analysts predict that Weatherford International will post 6.14 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Arunava Mitra sold 10,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.57, for a total value of $675,700.00. Following the completion of the transaction, the chief financial officer now directly owns 21,072 shares of the company’s stock, valued at $1,423,835.04. This represents a 32.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David John Reed sold 4,762 shares of Weatherford International stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the sale, the executive vice president now directly owns 11,109 shares in the company, valued at $807,179.94. The trade was a 30.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,692 shares of company stock valued at $6,207,725. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WFRD. Lindbrook Capital LLC raised its stake in shares of Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after purchasing an additional 204 shares in the last quarter. Huntington National Bank increased its stake in Weatherford International by 190.4% during the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock valued at $28,000 after buying an additional 257 shares during the period. Zions Bancorporation N.A. bought a new stake in shares of Weatherford International during the 4th quarter worth about $29,000. Farther Finance Advisors LLC raised its position in shares of Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after buying an additional 281 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Weatherford International in the 3rd quarter worth approximately $34,000. Institutional investors own 97.23% of the company’s stock.

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.