Weatherford International (NASDAQ:WFRD) Price Target Cut to $82.00 by Analysts at Piper Sandler

Weatherford International (NASDAQ:WFRD) had its price objective reduced by Piper Sandler from $87.00 to $82.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut shares of Weatherford International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $132.00 to $98.00 in a report on Friday, December 13th. Raymond James dropped their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research report on Friday. Bank of America reduced their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Citigroup dropped their price objective on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Evercore ISI reduced their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.25.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $67.90 on Monday. The business has a fifty day moving average price of $71.36 and a 200-day moving average price of $85.52. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.80 and a quick ratio of 1.49. The company has a market capitalization of $4.93 billion, a PE ratio of 10.10, a PEG ratio of 1.48 and a beta of 0.60. Weatherford International has a 1-year low of $60.45 and a 1-year high of $135.00.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a net margin of 9.18% and a return on equity of 40.65%. As a group, equities analysts expect that Weatherford International will post 6.14 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st will be given a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. Weatherford International’s payout ratio is currently 14.88%.

Insider Transactions at Weatherford International

In other news, EVP Scott C. Weatherholt sold 44,505 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $8,272,507.23. This represents a 26.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David John Reed sold 4,762 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the transaction, the executive vice president now owns 11,109 shares of the company’s stock, valued at $807,179.94. This represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,692 shares of company stock valued at $6,207,725 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC increased its holdings in shares of Weatherford International by 9.5% in the 4th quarter. William Blair Investment Management LLC now owns 500,005 shares of the company’s stock worth $35,815,000 after buying an additional 43,182 shares during the last quarter. Royce & Associates LP purchased a new stake in Weatherford International during the fourth quarter valued at approximately $7,189,000. Commonwealth Equity Services LLC lifted its stake in shares of Weatherford International by 123.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 9,484 shares of the company’s stock valued at $679,000 after purchasing an additional 5,239 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Weatherford International by 0.7% in the 4th quarter. Swiss National Bank now owns 143,900 shares of the company’s stock worth $10,308,000 after purchasing an additional 1,000 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Weatherford International by 45.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,643 shares of the company’s stock valued at $261,000 after purchasing an additional 1,137 shares during the last quarter. Hedge funds and other institutional investors 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.