Citigroup Cuts Weatherford International (NASDAQ:WFRD) Price Target to $130.00

Weatherford International (NASDAQ:WFRD) had its price objective dropped by analysts at Citigroup from $155.00 to $130.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 47.84% from the stock’s current price.

WFRD has been the topic of several other reports. Bank of America upped their price objective on shares of Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Barclays increased their target price on Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Raymond James dropped their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Wednesday, July 24th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Weatherford International currently has a consensus rating of “Buy” and a consensus target price of $150.75.

Weatherford International Stock Performance

Shares of Weatherford International stock traded down $6.53 during trading on Wednesday, hitting $87.93. 663,240 shares of the stock were exchanged, compared to its average volume of 880,296. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average price of $105.64 and a 200-day moving average price of $114.51. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 0.69 and a beta of 0.61. Weatherford International has a 1-year low of $82.16 and a 1-year high of $135.00.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company earned $1.12 EPS. Weatherford International’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities analysts predict that Weatherford International will post 6.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of Weatherford International

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC increased its position in Weatherford International by 189.0% during the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after purchasing an additional 189 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Weatherford International by 539.1% in the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after acquiring an additional 248 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Weatherford International during the first quarter worth $29,000. Fidelis Capital Partners LLC purchased a new position in Weatherford International in the first quarter worth $33,000. Finally, Rise Advisors LLC bought a new position in Weatherford International in the 1st quarter valued at $34,000. 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.