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

Weatherford International (NASDAQ:WFRD) had its price target reduced by investment analysts at Citigroup from $110.00 to $95.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 41.58% from the company’s current price.

Several other research analysts have also recently issued reports on WFRD. Evercore ISI dropped their target price 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. Benchmark restated a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Barclays reduced their price objective on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday. Piper Sandler began coverage on shares of Weatherford International in a research note on Thursday. They issued a “neutral” rating and a $87.00 target price for the company. Finally, Bank of America reduced 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Weatherford International presently has an average rating of “Moderate Buy” and an average target price of $121.25.

Weatherford International Trading Down 2.1 %

Shares of WFRD stock opened at $67.10 on Friday. The stock’s 50-day moving average price is $81.97 and its 200-day moving average price is $98.92. Weatherford International has a 12-month low of $66.23 and a 12-month high of $135.00. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. 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) last announced its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) 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 business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts predict that Weatherford International will post 6.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Desmond J. Mills sold 6,531 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 11,680 shares in the company, valued at $932,764.80. This represents a 35.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of Weatherford International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates grew its holdings in Weatherford International by 25.7% during the second quarter. Raymond James & Associates now owns 97,101 shares of the company’s stock worth $11,890,000 after acquiring an additional 19,853 shares during the period. Fifth Third Bancorp grew its stake in shares of Weatherford International by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after purchasing an additional 85 shares during the period. Calamos Advisors LLC increased its holdings in shares of Weatherford International by 2.9% in the 2nd quarter. Calamos Advisors LLC now owns 27,432 shares of the company’s stock valued at $3,359,000 after purchasing an additional 786 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Weatherford International by 187.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 46,559 shares of the company’s stock valued at $5,701,000 after purchasing an additional 30,338 shares during the period. Finally, Legato Capital Management LLC boosted its holdings in Weatherford International by 3.3% during the second quarter. Legato Capital Management LLC now owns 25,131 shares of the company’s stock worth $3,077,000 after buying an additional 809 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.