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

Weatherford International (NASDAQ:WFRD) had its price target reduced by investment analysts at Barclays from $111.00 to $109.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 22.31% from the company’s current price.

Several other equities research analysts also recently weighed in on WFRD. Citigroup raised their target price on shares of Weatherford International from $77.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Piper Sandler upped their target price on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. BMO Capital Markets began coverage on Weatherford International in a research note on Friday, October 10th. They issued an “outperform” rating and a $82.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Weatherford International in a report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on shares of Weatherford International from $66.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Weatherford International currently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Weatherford International Stock Up 0.7%

Shares of WFRD opened at $89.12 on Friday. The business has a fifty day moving average of $79.41 and a 200 day moving average of $68.57. The company has a market cap of $6.39 billion, a PE ratio of 16.14 and a beta of 0.79. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.93. Weatherford International has a 52-week low of $36.74 and a 52-week high of $91.23.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.03). Weatherford International had a return on equity of 28.28% and a net margin of 8.15%.The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $2.06 EPS. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, sell-side analysts expect that Weatherford International will post 5.89 EPS for the current year.

Insider Activity at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $77.25, for a total value of $164,465.25. Following the sale, the executive vice president owned 15,673 shares in the company, valued at $1,210,739.25. This represents a 11.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quent Capital LLC purchased a new position in Weatherford International during the third quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new position in Weatherford International in the second quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its holdings in Weatherford International by 83.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after purchasing an additional 253 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Weatherford International by 69.8% in the second quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock valued at $29,000 after buying an additional 240 shares in the last quarter. Finally, American National Bank & Trust increased its stake in Weatherford International by 2,392.0% during the second quarter. American National Bank & Trust now owns 623 shares of the company’s stock worth $31,000 after purchasing an additional 598 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.