Weatherford International (NASDAQ:WFRD) Price Target Cut to $142.00

Weatherford International (NASDAQ:WFRD) had its price target reduced by Evercore ISI from $149.00 to $142.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts also recently issued reports on WFRD. Benchmark restated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a report on Thursday. Raymond James cut their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Barclays lowered their price objective on shares of Weatherford International from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Citigroup reduced their target price on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, Bank of America dropped their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $144.88.

Weatherford International Stock Performance

NASDAQ:WFRD opened at $80.35 on Thursday. The company has a market cap of $5.88 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.86 and a beta of 0.58. Weatherford International has a twelve month low of $77.29 and a twelve month high of $135.00. The company’s 50-day moving average price is $93.33 and its 200-day moving average price is $109.70. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 1.31.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share 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 49.11%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company posted $1.66 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that Weatherford International will post 6.56 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. Weatherford International’s payout ratio is currently 16.18%.

Insider Buying and Selling at Weatherford International

In other news, EVP David John Reed sold 6,805 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Weatherford International by 0.7% in the first quarter. Vanguard Group Inc. now owns 7,599,657 shares of the company’s stock valued at $877,152,000 after acquiring an additional 53,017 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Weatherford International by 2.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,409,020 shares of the company’s stock valued at $739,730,000 after purchasing an additional 182,120 shares during the last quarter. Boston Partners lifted its holdings in shares of Weatherford International by 19.3% in the 1st quarter. Boston Partners now owns 2,722,281 shares of the company’s stock valued at $315,240,000 after purchasing an additional 439,700 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Weatherford International by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 657,953 shares of the company’s stock valued at $80,566,000 after purchasing an additional 38,700 shares during the period. Finally, Millennium Management LLC increased its position in Weatherford International by 33.0% during the second quarter. Millennium Management LLC now owns 631,862 shares of the company’s stock worth $77,372,000 after buying an additional 156,756 shares during the period. Institutional investors and hedge funds 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.