Weatherford International (NASDAQ:WFRD) Price Target Lowered to $154.00 at Barclays

Weatherford International (NASDAQ:WFRD) had its price objective cut by investment analysts at Barclays from $156.00 to $154.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 88.24% from the company’s previous close.

A number of other brokerages also recently issued reports on WFRD. Wall Street Zen downgraded Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. UBS Group raised their target price on Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Citigroup lowered their target price on Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 26th. Weiss Ratings lowered Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Raymond James Financial cut their price target on Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Weatherford International presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.78.

Weatherford International Trading Down 0.2%

WFRD opened at $81.81 on Thursday. Weatherford International has a twelve month low of $52.33 and a twelve month high of $113.15. The company has a fifty day moving average of $96.41 and a 200-day moving average of $95.73. The stock has a market cap of $5.87 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.86. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, April 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.47. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. Weatherford International’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, sell-side analysts predict that Weatherford International will post 6.07 EPS for the current year.

Institutional Trading of Weatherford International

Several large investors have recently made changes to their positions in the company. Holocene Advisors LP lifted its stake in shares of Weatherford International by 712.8% in the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after buying an additional 1,443,512 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Weatherford International by 1,040.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,244,464 shares of the company’s stock worth $97,392,000 after acquiring an additional 1,135,338 shares in the last quarter. Norges Bank bought a new stake in shares of Weatherford International during the fourth quarter worth about $61,399,000. Barclays PLC raised its holdings in shares of Weatherford International by 1,096.6% in the 4th quarter. Barclays PLC now owns 855,752 shares of the company’s stock worth $66,971,000 after acquiring an additional 784,237 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Weatherford International by 154.3% in the 3rd quarter. Millennium Management LLC now owns 1,159,192 shares of the company’s stock worth $79,324,000 after acquiring an additional 703,401 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

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.