Barclays Has Lowered Expectations for Weatherford International (NASDAQ:WFRD) Stock Price

Weatherford International (NASDAQ:WFRD) had its target price lowered by analysts at Barclays from $147.00 to $105.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 53.15% from the stock’s previous close.

Several other analysts also recently issued reports on WFRD. Evercore ISI cut their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group lowered Weatherford International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Citigroup decreased their price objective on Weatherford International from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Benchmark reaffirmed a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research note on Thursday, October 24th. Finally, 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. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.13.

Weatherford International Trading Down 1.9 %

Shares of WFRD opened at $68.56 on Wednesday. The business’s 50-day moving average price is $82.51 and its 200 day moving average price is $99.25. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $4.98 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.64 and a beta of 0.58. Weatherford International has a 1-year low of $68.33 and a 1-year high of $135.00.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.41. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $1.66 earnings per share. Analysts expect that Weatherford International will post 6.85 earnings per share for the current year.

Insider Buying and Selling at Weatherford International

In other news, CAO Desmond J. Mills sold 6,531 shares of the company’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 sale, the chief accounting officer now owns 11,680 shares in the company, valued at approximately $932,764.80. This represents a 35.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WFRD. Farther Finance Advisors LLC raised its holdings in Weatherford International by 364.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after acquiring an additional 281 shares during the period. nVerses Capital LLC acquired a new stake in shares of Weatherford International in the third quarter valued at about $34,000. Millburn Ridgefield Corp bought a new position in shares of Weatherford International in the third quarter worth about $42,000. Fifth Third Bancorp lifted its position 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 last quarter. Finally, GAMMA Investing LLC boosted its stake 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 purchasing an additional 141 shares during the period. 97.23% of the stock is owned by 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.