Weatherford International (NASDAQ:WFRD) Price Target Raised to $165.00

Weatherford International (NASDAQ:WFRD) had its price target hoisted by Barclays from $160.00 to $165.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Benchmark restated a buy rating and issued a $155.00 target price on shares of Weatherford International in a report on Wednesday. Evercore ISI increased their price objective on shares of Weatherford International from $130.00 to $151.00 and gave the company an outperform rating in a research note on Thursday, April 25th. Piper Sandler increased their price objective on shares of Weatherford International from $180.00 to $184.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Raymond James increased their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the company a strong-buy rating in a research note on Tuesday, April 16th. Finally, Citigroup initiated coverage on shares of Weatherford International in a research note on Tuesday, May 14th. They issued a buy rating and a $155.00 price objective for the company. 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 stock has a consensus rating of Buy and a consensus price target of $153.88.

Weatherford International Trading Down 0.3 %

WFRD opened at $117.38 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.37. Weatherford International has a fifty-two week low of $78.53 and a fifty-two week high of $135.00. The firm has a market capitalization of $8.59 billion, a PE ratio of 18.99, a P/E/G ratio of 0.79 and a beta of 0.64. The company’s 50-day moving average is $120.43 and its 200 day moving average is $113.34.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company earned $1.12 EPS. The company’s revenue was up 10.3% on a year-over-year basis. As a group, research analysts predict that Weatherford International will post 7.09 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Tuesday, August 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WFRD. Norges Bank bought a new position in shares of Weatherford International during the 4th quarter valued at approximately $89,762,000. Boston Partners boosted its holdings in Weatherford International by 19.3% in the 1st quarter. Boston Partners now owns 2,722,281 shares of the company’s stock worth $315,240,000 after buying an additional 439,700 shares during the period. Westwood Holdings Group Inc. boosted its holdings in Weatherford International by 5,525.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 359,569 shares of the company’s stock worth $41,501,000 after buying an additional 353,177 shares during the period. Lord Abbett & CO. LLC bought a new position in Weatherford International in the 1st quarter worth approximately $24,527,000. Finally, Jennison Associates LLC boosted its holdings in Weatherford International by 17.6% in the 4th quarter. Jennison Associates LLC now owns 1,284,626 shares of the company’s stock worth $125,675,000 after buying an additional 191,855 shares during the period. 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.