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

Weatherford International (NASDAQ:WFRD) had its price target decreased by investment analysts at Barclays from $147.00 to $105.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 53.15% from the company’s previous close.

Several other analysts have also commented on WFRD. Bank of America decreased their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research note on Thursday, October 24th. Evercore ISI dropped their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Finally, Citigroup dropped their price objective on shares of Weatherford International from $115.00 to $110.00 and set a “buy” rating for the company in a report on Monday, December 9th. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.13.

Weatherford International Price Performance

NASDAQ:WFRD opened at $68.56 on Wednesday. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 0.64 and a beta of 0.58. The company has a 50-day moving average of $82.51 and a 200-day moving average of $99.25. Weatherford International has a 52 week low of $68.33 and a 52 week high of $135.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company earned $1.66 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Weatherford International will post 6.85 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at $932,764.80. This trade represents a 35.86 % 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. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WFRD. Farther Finance Advisors LLC lifted its holdings in Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after buying an additional 281 shares during the period. nVerses Capital LLC acquired a new stake in Weatherford International during the 3rd quarter worth $34,000. Millburn Ridgefield Corp bought a new stake in shares of Weatherford International during the 3rd quarter valued at $42,000. Fifth Third Bancorp lifted its stake in shares of Weatherford International by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after purchasing an additional 85 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Weatherford International by 36.9% in the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after purchasing an additional 141 shares during the last quarter. 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.