Weatherford International (NASDAQ:WFRD) Given New $111.00 Price Target at Barclays

Weatherford International (NASDAQ:WFRD) had its price target lifted by Barclays from $81.00 to $111.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on WFRD. Zacks Research upgraded Weatherford International from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. UBS Group began coverage on Weatherford International in a research note on Tuesday, December 2nd. They issued a “neutral” rating and a $82.00 price target on the stock. Melius began coverage on Weatherford International in a research report on Wednesday, August 20th. They set a “buy” rating and a $108.00 price target for the company. Melius Research began coverage on Weatherford International in a report on Wednesday, August 20th. They issued a “buy” rating and a $108.00 price objective on the stock. Finally, Citigroup lifted their target price on shares of Weatherford International from $77.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Weatherford International presently has a consensus rating of “Moderate Buy” and an average target price of $93.20.

Weatherford International Trading Up 1.5%

Shares of WFRD stock opened at $77.40 on Wednesday. Weatherford International has a 1-year low of $36.74 and a 1-year high of $82.26. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 14.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55. The stock has a 50 day simple moving average of $72.26 and a 200-day simple moving average of $62.74.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. Weatherford International had a net margin of 8.15% and a return on equity of 28.28%. Weatherford International’s revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.06 EPS. On average, equities research analysts expect that Weatherford International will post 5.89 EPS for the current fiscal year.

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. Weatherford International’s payout ratio is 18.12%.

Insider Buying and Selling at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $77.25, for a total value of $164,465.25. Following the completion of the sale, the executive vice president owned 15,673 shares of the company’s stock, valued at $1,210,739.25. This represents a 11.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WFRD. Quent Capital LLC acquired a new stake in Weatherford International during the third quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Weatherford International during the 2nd quarter worth $27,000. EverSource Wealth Advisors LLC grew its holdings 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 purchasing an additional 253 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Weatherford International by 69.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock worth $29,000 after purchasing an additional 240 shares during the last quarter. Finally, American National Bank & Trust raised its holdings in Weatherford International by 2,392.0% in the 2nd quarter. American National Bank & Trust now owns 623 shares of the company’s stock valued at $31,000 after buying an additional 598 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Company Profile

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.