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

Weatherford International (NASDAQ:WFRD) had its price target decreased by analysts at Barclays from $114.00 to $111.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 7.21% from the stock’s current price.

Several other analysts have also recently weighed in on WFRD. Zacks Research upgraded shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Citigroup boosted their target price on shares of Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a report on Wednesday, January 21st. Wall Street Zen lowered Weatherford International from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada initiated coverage on Weatherford International in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.78.

Weatherford International Stock Performance

NASDAQ:WFRD opened at $103.53 on Thursday. The stock has a market cap of $7.43 billion, a P/E ratio of 17.45 and a beta of 0.83. The firm’s fifty day simple moving average is $96.85 and its 200 day simple moving average is $82.88. Weatherford International has a twelve month low of $39.54 and a twelve month high of $110.57. 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 (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.49. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Weatherford International had a net margin of 8.76% and a return on equity of 28.07%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 earnings per share. As a group, research analysts predict that Weatherford International will post 5.89 EPS for the current year.

Insider Transactions at Weatherford International

In other Weatherford International news, CEO Girish Saligram sold 100,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.09% of the company’s stock.

Institutional Trading of Weatherford International

A number of institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund boosted its holdings in Weatherford International by 20.3% in the third quarter. New York State Common Retirement Fund now owns 326,892 shares of the company’s stock worth $22,369,000 after acquiring an additional 55,183 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of 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 in the last quarter. Frontier Capital Management Co. LLC increased its position in shares of 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 in the last quarter. SummerHaven Investment Management LLC purchased a new stake in shares of Weatherford International during the third quarter worth approximately $1,014,000. Finally, Cooke & Bieler LP increased its position in shares of Weatherford International by 6.0% during the third quarter. Cooke & Bieler LP now owns 303,850 shares of the company’s stock worth $20,792,000 after purchasing an additional 17,330 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors.

About Weatherford International

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.