Raymond James Cuts Weatherford International (NASDAQ:WFRD) Price Target to $97.00

Weatherford International (NASDAQ:WFRD) had its price objective dropped by research analysts at Raymond James from $107.00 to $97.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price objective suggests a potential upside of 43.59% from the company’s previous close.

A number of other equities analysts have also commented on WFRD. Barclays lowered their price target on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Evercore ISI reduced their price target 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. Bank of America dropped their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 14th. Piper Sandler initiated coverage on shares of Weatherford International in a report on Thursday, December 19th. They issued a “neutral” rating and a $87.00 price objective for the company. Finally, Benchmark restated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Two investment 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 stock. According to data from MarketBeat.com, Weatherford International presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.63.

Weatherford International Stock Performance

Shares of WFRD traded up $2.20 during trading hours on Friday, hitting $67.56. The company had a trading volume of 770,192 shares, compared to its average volume of 1,243,455. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.35 and a beta of 0.61. The business has a fifty day moving average of $71.99 and a 200-day moving average of $86.90. Weatherford International has a 12 month low of $60.45 and a 12 month high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. Equities analysts anticipate that Weatherford International will post 6.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP David John Reed sold 4,762 shares of the business’s stock in a transaction dated 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 directly owns 11,109 shares of the company’s stock, valued at approximately $807,179.94. The trade was a 30.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott C. Weatherholt sold 44,505 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 125,019 shares in the company, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its holdings in shares of 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 buying an additional 281 shares during the last quarter. Lindbrook Capital LLC raised its stake in Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after acquiring an additional 204 shares during the period. nVerses Capital LLC purchased a new stake in Weatherford International during the third quarter valued at about $34,000. Millburn Ridgefield Corp purchased a new stake in Weatherford International during the third quarter valued at about $42,000. Finally, R Squared Ltd purchased a new stake in Weatherford International during the fourth quarter valued at about $36,000. 97.23% of the stock is owned by hedge funds and other 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.