Weatherford International (NASDAQ:WFRD) Price Target Raised to $156.00 at Barclays

Weatherford International (NASDAQ:WFRD) had its target price raised by Barclays from $111.00 to $156.00 in a research report report published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

WFRD has been the subject of several other reports. UBS Group raised their price target on shares of Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Weiss Ratings cut shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Royal Bank Of Canada initiated coverage on shares of Weatherford International in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 target price for the company. Wall Street Zen cut shares of Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Piper Sandler raised their target price on shares of Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Weatherford International presently has an average rating of “Moderate Buy” and a consensus target price of $110.33.

Weatherford International Stock Performance

Shares of WFRD stock opened at $102.32 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. The company has a market capitalization of $7.36 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.21 and a beta of 0.87. The company’s 50 day moving average price is $97.95 and its two-hundred day moving average price is $88.17. Weatherford International has a 52 week low of $42.75 and a 52 week high of $112.31.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.02 by $0.47. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. On average, analysts expect that Weatherford International will post 5.97 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Wednesday, May 6th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.1%. Weatherford International’s dividend payout ratio (DPR) is currently 17.21%.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds and other institutional investors have recently modified their holdings of WFRD. TD Private Client Wealth LLC raised its stake in Weatherford International by 4.2% in the fourth quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock valued at $252,000 after purchasing an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Weatherford International by 24.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock valued at $55,000 after purchasing an additional 137 shares in the last quarter. Corient Private Wealth LLC raised its stake in Weatherford International by 3.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock valued at $385,000 after purchasing an additional 146 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Weatherford International by 4.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,851 shares of the company’s stock valued at $364,000 after purchasing an additional 151 shares in the last quarter. Finally, CWM LLC raised its stake in Weatherford International by 2.3% in the fourth quarter. CWM LLC now owns 7,711 shares of the company’s stock valued at $603,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

About Weatherford International

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.