Weatherford International (NASDAQ:WFRD) Given New $137.00 Price Target at Citigroup

Weatherford International (NASDAQ:WFRD) had its price target upped by research analysts at Citigroup from $134.00 to $137.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 31.60% from the stock’s previous close.

Several other brokerages also recently weighed in on WFRD. Zacks Research downgraded shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. UBS Group upped their price target on Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Wall Street Zen upgraded Weatherford International from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler upped their price target on Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings downgraded Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.67.

Weatherford International Stock Performance

Shares of NASDAQ:WFRD traded up $0.38 during mid-day trading on Wednesday, reaching $104.10. 476,070 shares of the company traded hands, compared to its average volume of 1,298,821. The company’s 50 day moving average price is $102.58 and its 200-day moving average price is $92.44. The firm has a market cap of $7.49 billion, a PE ratio of 16.30, a PEG ratio of 0.92 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.31 and a quick ratio of 1.73. Weatherford International has a 52 week low of $45.97 and a 52 week high of $113.15.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.47. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities analysts expect that Weatherford International will post 6.13 EPS for the current fiscal year.

Institutional Trading of Weatherford International

Several hedge funds and other institutional investors have recently bought and sold shares of WFRD. Smartleaf Asset Management LLC grew its position in shares of Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after buying an additional 178 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Weatherford International during the 4th quarter worth $26,000. EverSource Wealth Advisors LLC grew its position in shares of Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after buying an additional 253 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Weatherford International during the 4th quarter worth $39,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Weatherford International during the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.