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

Weatherford International (NASDAQ:WFRD) had its price objective dropped by research analysts at Citigroup from $115.00 to $110.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 43.34% from the stock’s current price.

Several other analysts also recently commented on the stock. Bank of America cut their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Evercore ISI dropped their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Barclays dropped their price target on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $146.57.

Weatherford International Stock Performance

Shares of WFRD stock opened at $76.74 on Monday. Weatherford International has a one year low of $76.39 and a one year high of $135.00. The company’s 50-day moving average is $84.89 and its 200 day moving average is $101.18. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 0.65 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm posted $1.66 EPS. Weatherford International’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts expect that Weatherford International will post 6.85 EPS for the current fiscal year.

Insider Buying and Selling at Weatherford International

In other news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp grew its position in Weatherford International by 31.0% in the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after acquiring an additional 85 shares in the last quarter. GAMMA Investing LLC grew its position in Weatherford International by 36.9% in the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after acquiring an additional 141 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Weatherford International by 20.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,063 shares of the company’s stock worth $129,000 after acquiring an additional 182 shares in the last quarter. KBC Group NV grew its position in Weatherford International by 10.4% in the third quarter. KBC Group NV now owns 1,945 shares of the company’s stock worth $165,000 after acquiring an additional 184 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Weatherford International by 26.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 949 shares of the company’s stock worth $116,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

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.