Weatherford International (NASDAQ:WFRD) Stock Gets Price Target Reduction from Citigroup

Weatherford International (NASDAQ:WFRD) had its target price dropped by analysts at Citigroup from $112.00 to $110.00 in a research note 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 23.57% from the stock’s current price.

Several other equities research analysts have also commented on WFRD. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research report on Monday, October 12th. Zacks Research lowered shares of Weatherford International from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Raymond James Financial decreased their target price on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Wall Street Zen downgraded shares of Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Royal Bank Of Canada dropped their price target on shares of Weatherford International from $124.00 to $123.00 and set an “outperform” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.57.

Weatherford International Stock Up 2.5%

NASDAQ WFRD traded up $2.17 during trading on Monday, hitting $89.02. The company’s stock had a trading volume of 379,710 shares, compared to its average volume of 1,238,283. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.04 and a quick ratio of 1.52. The company has a market cap of $6.45 billion, a PE ratio of 15.89, a P/E/G ratio of 1.47 and a beta of 1.05. The business’s 50 day simple moving average is $85.48 and its 200-day simple moving average is $92.16. Weatherford International has a fifty-two week low of $68.49 and a fifty-two week high of $113.15.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 20th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Weatherford International had a return on equity of 22.39% and a net margin of 8.64%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. On average, equities analysts anticipate that Weatherford International will post 5.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Jacqueline Mutschler sold 4,094 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $90.50, for a total transaction of $370,507.00. Following the sale, the director owned 29,093 shares of the company’s stock, valued at approximately $2,632,916.50. This represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds and other institutional investors have recently modified their holdings of WFRD. Squarepoint Ops LLC increased its stake in Weatherford International by 3,125.3% in the second quarter. Squarepoint Ops LLC now owns 71,731 shares of the company’s stock valued at $5,846,000 after purchasing an additional 69,507 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Weatherford International by 11.9% in the 2nd quarter. Baird Financial Group Inc. now owns 156,542 shares of the company’s stock valued at $12,758,000 after buying an additional 16,605 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of Weatherford International in the 2nd quarter valued at $15,269,000. California Public Employees Retirement System grew its position in shares of Weatherford International by 13.8% in the 1st quarter. California Public Employees Retirement System now owns 171,477 shares of the company’s stock valued at $16,218,000 after buying an additional 20,803 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of Weatherford International by 19.3% in the 2nd quarter. Tidal Investments LLC now owns 89,847 shares of the company’s stock valued at $7,323,000 after buying an additional 14,537 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Company Profile

Weatherford International plc is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the life cycle of a well, from drilling and formation evaluation to completion, production, intervention and abandonment.

The company’s product and service portfolio includes drilling systems, well logging and evaluation tools, completion equipment, artificial-lift systems, production optimization technologies, well intervention services and digital solutions.