Weatherford International (NASDAQ:WFRD) Price Target Cut to $85.00 by Analysts at Barclays

Weatherford International (NASDAQ:WFRD) had its target price cut by Barclays from $92.00 to $85.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 56.86% from the company’s current price.

Several other analysts have also commented on WFRD. Raymond James lowered their price objective on shares of Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 7th. Citigroup lowered their price target on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group lowered Weatherford International from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $132.00 to $98.00 in a report on Friday, December 13th. Piper Sandler lowered their target price on Weatherford International from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, Benchmark cut their price target on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.75.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $54.19 on Monday. The company has a market capitalization of $3.95 billion, a PE ratio of 8.06, a PEG ratio of 1.65 and a beta of 0.61. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average price is $61.30 and its 200-day moving average price is $74.26. Weatherford International has a twelve month low of $51.24 and a twelve month high of $135.00.

Weatherford International (NASDAQ:WFRD) last posted 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 return on equity of 40.65% and a net margin of 9.18%. On average, equities analysts anticipate that Weatherford International will post 5.89 EPS for the current year.

Insider Activity

In other Weatherford International news, EVP David John Reed sold 4,762 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was 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 in the company, valued at $807,179.94. This represents a 30.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Arunava Mitra sold 10,000 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.57, for a total value of $675,700.00. Following the completion of the transaction, the chief financial officer now directly owns 21,072 shares in the company, valued at approximately $1,423,835.04. This represents a 32.18 % 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 worth $6,207,725 over the last ninety days. Company insiders own 1.60% 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 the stock. Connor Clark & Lunn Investment Management Ltd. bought a new position in Weatherford International during the 3rd quarter valued at approximately $213,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Weatherford International by 4.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,982 shares of the company’s stock valued at $1,527,000 after purchasing an additional 723 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Weatherford International by 402.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,482 shares of the company’s stock valued at $27,555,000 after buying an additional 259,924 shares during the period. Verition Fund Management LLC increased its position in shares of Weatherford International by 223.3% during the third quarter. Verition Fund Management LLC now owns 26,533 shares of the company’s stock valued at $2,253,000 after buying an additional 18,326 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in Weatherford International in the third quarter worth about $3,615,000. Institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

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.