Weatherford International (NASDAQ:WFRD) Price Target Cut to $95.00 by Analysts at Citigroup

Weatherford International (NASDAQ:WFRD) had its target price reduced by Citigroup from $110.00 to $95.00 in a research note issued to investors on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research analysts also recently commented on the company. The Goldman Sachs Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and cut their target price for the stock from $132.00 to $98.00 in a research note on Friday, December 13th. Bank of America cut their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Benchmark reaffirmed a “buy” rating and set a $155.00 target price on shares of Weatherford International in a report on Thursday, October 24th. Piper Sandler began coverage on shares of Weatherford International in a report on Thursday. They issued a “neutral” rating and a $87.00 price target for the company. Finally, Barclays decreased their price target on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.25.

Weatherford International Stock Performance

Shares of WFRD stock opened at $67.10 on Friday. The firm’s 50 day moving average is $81.97 and its 200 day moving average is $98.84. The stock has a market capitalization of $4.87 billion, a P/E ratio of 9.42, a PEG ratio of 0.64 and a beta of 0.58. Weatherford International has a 12 month low of $66.23 and a 12 month high of $135.00. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm posted $1.66 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Weatherford International will post 6.85 earnings per share for the current year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.49%. Weatherford International’s dividend payout ratio is presently 14.04%.

Insiders Place Their Bets

In other news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the transaction, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This represents a 35.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Weatherford International

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