Citigroup Cuts Weatherford International (NASDAQ:WFRD) Price Target to $110.00

Weatherford International (NASDAQ:WFRD - Get Free Report) had its price objective lowered by analysts at Citigroup from $115.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price objective points to a potential upside of 43.34% from the stock's previous close.

WFRD has been the topic of a number of other research reports. Evercore ISI lowered their price target on 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 lowered their price target on Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Barclays lowered their price target on Weatherford International from $154.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Finally, Benchmark reaffirmed a "buy" rating and issued a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $146.57.

Weatherford International Stock Down 1.1 %

Shares of Weatherford International stock traded down $0.89 during trading on Monday, reaching $76.74. The stock had a trading volume of 626,394 shares, compared to its average volume of 900,818. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.65 and a beta of 0.58. The stock has a fifty day moving average price of $85.09 and a two-hundred day moving average price of $101.45. Weatherford International has a 52 week low of $76.39 and a 52 week high of $135.00. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.41. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. Weatherford International's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 earnings per share. Sell-side analysts predict that Weatherford International will post 6.85 EPS for the current fiscal year.

Insider Activity at Weatherford International

In related news, CAO Desmond J. Mills sold 6,531 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. The trade was a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Weatherford International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Weatherford International by 36.7% during the third quarter. FMR LLC now owns 3,573,003 shares of the company's stock worth $303,419,000 after purchasing an additional 959,783 shares during the last quarter. State Street Corp lifted its stake in Weatherford International by 3.1% during the third quarter. State Street Corp now owns 2,267,484 shares of the company's stock worth $192,555,000 after purchasing an additional 68,553 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Weatherford International by 551.1% during the third quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company's stock worth $122,356,000 after purchasing an additional 1,219,553 shares during the last quarter. Jennison Associates LLC lifted its stake in Weatherford International by 30.6% during the third quarter. Jennison Associates LLC now owns 1,324,101 shares of the company's stock worth $112,443,000 after purchasing an additional 310,259 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Weatherford International by 6.2% during the second quarter. Renaissance Technologies LLC now owns 657,953 shares of the company's stock worth $80,566,000 after purchasing an additional 38,700 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

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.