Weatherford International (NASDAQ:WFRD) Price Target Lowered to $105.00 at Barclays

Weatherford International (NASDAQ:WFRD - Free Report) had its price objective trimmed by Barclays from $147.00 to $105.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently commented on WFRD. Benchmark reaffirmed a "buy" rating and set a $155.00 target price on shares of Weatherford International in a report on Thursday, October 24th. Evercore ISI lowered their price objective on shares of Weatherford International from $149.00 to $142.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Bank of America reduced their target price on Weatherford International from $145.00 to $130.00 and set a "buy" rating for the company in a report on Monday, October 14th. Citigroup reduced their price target on shares of Weatherford International from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Finally, The Goldman Sachs Group lowered shares of Weatherford International from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $132.00 to $98.00 in a research note on Friday, December 13th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Weatherford International presently has a consensus rating of "Buy" and a consensus target price of $135.25.

Weatherford International Price Performance

Weatherford International stock traded down $1.76 during midday trading on Wednesday, hitting $69.86. The company's stock had a trading volume of 968,555 shares, compared to its average volume of 899,876. Weatherford International has a 12 month low of $69.30 and a 12 month high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. The stock's 50-day moving average price is $83.02 and its 200-day moving average price is $99.47. The company has a market capitalization of $5.08 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41. The business had revenue of $1.41 billion during 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 46.25%. The business'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 earnings per share. Analysts anticipate that Weatherford International will post 6.85 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.43%. The ex-dividend date was Wednesday, November 6th. Weatherford International's payout ratio is 14.04%.

Insiders Place Their Bets

In other news, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the transaction, the chief accounting officer now owns 11,680 shares of the company's stock, valued at $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James & Associates boosted its holdings in Weatherford International by 25.7% during the second quarter. Raymond James & Associates now owns 97,101 shares of the company's stock valued at $11,890,000 after acquiring an additional 19,853 shares during the period. Fifth Third Bancorp grew its holdings in Weatherford International by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company's stock valued at $44,000 after buying an additional 85 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Weatherford International in the 2nd quarter worth approximately $253,000. Calamos Advisors LLC lifted its holdings in shares of Weatherford International by 2.9% during the second quarter. Calamos Advisors LLC now owns 27,432 shares of the company's stock worth $3,359,000 after buying an additional 786 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Weatherford International by 187.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 46,559 shares of the company's stock valued at $5,701,000 after acquiring an additional 30,338 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Company Profile

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.