Weatherford International (NASDAQ:WFRD) Given New $77.00 Price Target at Barclays

Weatherford International (NASDAQ:WFRD - Free Report) had its price objective lowered by Barclays from $85.00 to $77.00 in a report released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research firms also recently issued reports on WFRD. Benchmark cut their price objective on Weatherford International from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Piper Sandler decreased their price target on shares of Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Raymond James downgraded shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $73.00 to $69.00 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Weatherford International presently has an average rating of "Moderate Buy" and an average price target of $99.75.

Weatherford International Price Performance

Shares of WFRD traded down $0.62 during midday trading on Friday, reaching $42.12. The stock had a trading volume of 1,662,309 shares, compared to its average volume of 1,116,451. The firm's 50 day moving average price is $51.06 and its 200-day moving average price is $67.43. The company has a market capitalization of $3.07 billion, a P/E ratio of 6.27, a P/E/G ratio of 1.65 and a beta of 0.70. Weatherford International has a 52 week low of $36.74 and a 52 week high of $135.00. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.14. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.21 billion. Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. On average, analysts forecast that Weatherford International will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Tuesday, May 6th. Weatherford International's payout ratio is 16.00%.

Insider Buying and Selling at Weatherford International

In other news, Director Neal P. Goldman bought 12,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average cost of $42.04 per share, with a total value of $504,480.00. Following the completion of the transaction, the director now directly owns 25,311 shares in the company, valued at $1,064,074.44. This represents a 90.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott C. Weatherholt sold 44,505 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares of the company's stock, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,930 shares of company stock worth $5,861,718 over the last ninety days. Company insiders own 1.60% of the company's stock.

Institutional Trading of Weatherford International

A number of institutional investors and hedge funds have recently modified their holdings of WFRD. Lindbrook Capital LLC boosted its position in shares of Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company's stock valued at $26,000 after acquiring an additional 204 shares in the last quarter. Huntington National Bank boosted its stake in Weatherford International by 190.4% in 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 in the last quarter. Zions Bancorporation N.A. acquired a new position in Weatherford International during the fourth quarter worth $29,000. Fifth Third Bancorp boosted its stake in shares of Weatherford International by 546.7% in the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Weatherford International by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after purchasing an additional 231 shares during the last quarter. 97.23% of the stock is currently 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.