Citigroup Lowers Weatherford International (NASDAQ:WFRD) Price Target to $95.00

Weatherford International (NASDAQ:WFRD - Get Free Report) had its target price reduced by analysts at Citigroup from $110.00 to $95.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 41.58% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Barclays lowered their price target on shares of Weatherford International from $147.00 to $105.00 and set an "overweight" rating on the stock in a report on Wednesday. Bank of America lowered their target price on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group lowered shares of Weatherford International from a "buy" rating to a "neutral" rating and reduced their price target for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Benchmark reissued a "buy" rating and set a $155.00 price objective on shares of Weatherford International in a research note on Thursday, October 24th. Finally, Evercore ISI reduced their target price on Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Weatherford International has an average rating of "Moderate Buy" and a consensus price target of $121.25.

Weatherford International Stock Performance

WFRD traded down $1.46 on Friday, hitting $67.10. The company's stock had a trading volume of 3,180,121 shares, compared to its average volume of 910,403. The company's 50 day simple moving average is $82.51 and its 200-day simple moving average is $99.25. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. Weatherford International has a 12 month low of $66.23 and a 12 month high of $135.00. The firm has a market cap of $4.87 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58.

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

Insider Activity

In related news, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction 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 in the company, valued at $932,764.80. This trade represents a 35.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company's stock.

Institutional Trading of Weatherford International

Several institutional investors have recently added to or reduced their stakes in WFRD. Fifth Third Bancorp boosted its stake in shares of Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company's stock valued at $44,000 after purchasing an additional 85 shares during the period. GAMMA Investing LLC raised its holdings in Weatherford International by 36.9% during the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company's stock valued at $44,000 after buying an additional 141 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Weatherford International by 20.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,063 shares of the company's stock valued at $129,000 after buying an additional 182 shares during the last quarter. KBC Group NV boosted its position in Weatherford International by 10.4% during the 3rd quarter. KBC Group NV now owns 1,945 shares of the company's stock valued at $165,000 after buying an additional 184 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Weatherford International by 26.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 949 shares of the company's stock worth $116,000 after acquiring an additional 200 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other 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.