Barclays Cuts Weatherford International (NASDAQ:WFRD) Price Target to $92.00

Weatherford International (NASDAQ:WFRD) had its target price cut by Barclays from $100.00 to $92.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Evercore ISI reduced their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Benchmark reduced their price objective on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Raymond James lowered their target price on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research note on Friday, February 7th. Piper Sandler dropped their price target on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $132.00 to $98.00 in a report on Friday, December 13th. Two 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. Based on data from MarketBeat.com, Weatherford International currently has a consensus rating of “Moderate Buy” and an average target price of $107.63.

Weatherford International Price Performance

Shares of WFRD stock opened at $73.93 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.80 and a quick ratio of 1.49. The company has a market capitalization of $5.37 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. The firm’s 50-day moving average is $70.49 and its two-hundred day moving average is $84.97. Weatherford International has a 12 month low of $60.45 and a 12 month high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. Analysts predict that Weatherford International will post 6.14 earnings per share for the current year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, February 21st. Weatherford International’s payout ratio is 14.88%.

Insider Buying and Selling

In other Weatherford International news, EVP David John Reed sold 4,762 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the transaction, the executive vice president now owns 11,109 shares in the company, valued at $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Desmond J. Mills sold 19,425 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.51, for a total value of $1,311,381.75. Following the sale, the chief accounting officer now directly owns 17,899 shares in the company, valued at $1,208,361.49. This represents a 52.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,692 shares of company stock valued at $6,207,725 in the last ninety days. Company 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 increased its stake in shares of Weatherford International by 364.9% during the third 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 period. Lindbrook Capital LLC grew its holdings in Weatherford International by 130.8% during the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares in the last quarter. Huntington National Bank increased its position in shares of Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock valued at $28,000 after purchasing an additional 257 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Weatherford International in the 3rd quarter valued at $34,000. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Weatherford International during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

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.