Weatherford International (NASDAQ:WFRD) Price Target Cut to $142.00

Weatherford International (NASDAQ:WFRD - Free Report) had its price objective reduced by Evercore ISI from $149.00 to $142.00 in a research report sent to investors on Thursday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Benchmark reaffirmed a "buy" rating and issued a $155.00 target price on shares of Weatherford International in a research report on Thursday. Citigroup decreased their price objective on Weatherford International from $155.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Barclays reduced their target price on shares of Weatherford International from $165.00 to $154.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Raymond James dropped their price objective on shares of Weatherford International from $161.00 to $158.00 and set a "strong-buy" rating on the stock in a research report on Thursday, July 25th. Finally, Bank of America lowered their target price on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $145.75.

Weatherford International Price Performance

Weatherford International stock traded down $3.85 during midday trading on Thursday, reaching $77.31. The company had a trading volume of 1,448,815 shares, compared to its average volume of 907,037. Weatherford International has a 12-month low of $77.29 and a 12-month high of $135.00. The firm's fifty day simple moving average is $94.51 and its 200-day simple moving average is $110.39. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. The company has a market capitalization of $5.66 billion, a P/E ratio of 11.10, a P/E/G ratio of 0.86 and a beta of 0.58.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.65 by $0.41. The firm had revenue of $1.41 billion for 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 49.11%. Weatherford International's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 earnings per share. As a group, equities analysts anticipate that Weatherford International will post 6.56 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Wednesday, November 6th. Weatherford International's dividend payout ratio is presently 14.04%.

Insider Buying and Selling

In related news, EVP David John Reed sold 6,805 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in Weatherford International by 86.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the company's stock valued at $132,000 after acquiring an additional 628 shares during the last quarter. Ballentine Partners LLC acquired a new position in Weatherford International in the first quarter worth $253,000. Diversified Trust Co raised its holdings in shares of Weatherford International by 6.0% during the first quarter. Diversified Trust Co now owns 13,695 shares of the company's stock worth $1,581,000 after purchasing an additional 778 shares during the period. Oliver Luxxe Assets LLC lifted its position in shares of Weatherford International by 1.1% in the 1st quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company's stock worth $1,307,000 after buying an additional 125 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Weatherford International by 669.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company's stock valued at $1,872,000 after buying an additional 14,112 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

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.