Weatherford International (NASDAQ:WFRD) Price Target Cut to $111.00 by Analysts at Barclays

Weatherford International (NASDAQ:WFRD) had its price objective decreased by research analysts at Barclays from $114.00 to $111.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 7.21% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. UBS Group increased their price objective on shares of Weatherford International from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, January 21st. The Goldman Sachs Group raised their target price on shares of Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Zacks Research upgraded shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Finally, Wall Street Zen downgraded shares of Weatherford International from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Weatherford International presently has a consensus rating of “Moderate Buy” and an average target price of $99.78.

Weatherford International Stock Up 1.3%

Shares of WFRD stock opened at $103.53 on Thursday. The firm has a fifty day moving average of $96.85 and a 200-day moving average of $82.88. The company has a quick ratio of 1.65, a current ratio of 2.19 and a debt-to-equity ratio of 0.86. Weatherford International has a 12-month low of $39.54 and a 12-month high of $110.57. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 17.45 and a beta of 0.83.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.49. Weatherford International had a net margin of 8.76% and a return on equity of 28.07%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts predict that Weatherford International will post 5.89 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Girish Saligram sold 100,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $105.50, for a total transaction of $10,550,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WFRD. New York State Common Retirement Fund boosted its position in Weatherford International by 20.3% during the third quarter. New York State Common Retirement Fund now owns 326,892 shares of the company’s stock worth $22,369,000 after purchasing an additional 55,183 shares during the period. Crossmark Global Holdings Inc. boosted its position in Weatherford International by 270.9% during the third quarter. Crossmark Global Holdings Inc. now owns 19,860 shares of the company’s stock worth $1,359,000 after purchasing an additional 14,505 shares during the period. Frontier Capital Management Co. LLC boosted its position in Weatherford International by 110.8% during the second quarter. Frontier Capital Management Co. LLC now owns 708,180 shares of the company’s stock worth $35,629,000 after purchasing an additional 372,192 shares during the period. SummerHaven Investment Management LLC bought a new position in Weatherford International during the third quarter worth about $1,014,000. Finally, Cooke & Bieler LP lifted its holdings in shares of Weatherford International by 6.0% in the third quarter. Cooke & Bieler LP now owns 303,850 shares of the company’s stock worth $20,792,000 after buying an additional 17,330 shares in the last quarter. Institutional investors and hedge funds 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.