Barclays Lowers Weatherford International (NASDAQ:WFRD) Price Target to $109.00

Weatherford International (NASDAQ:WFRD) had its target price decreased by analysts at Barclays from $111.00 to $109.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 21.21% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Citigroup increased their price target on shares of Weatherford International from $77.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. BMO Capital Markets started coverage on shares of Weatherford International in a research note on Friday, October 10th. They issued an “outperform” rating and a $82.00 target price for the company. The Goldman Sachs Group boosted their price target on Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Piper Sandler upped their price objective on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Weatherford International has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Weatherford International Trading Up 0.9%

Shares of Weatherford International stock opened at $89.93 on Friday. The stock has a market cap of $6.45 billion, a P/E ratio of 16.29 and a beta of 0.79. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.93. Weatherford International has a 12-month low of $36.74 and a 12-month high of $93.14. The business’s 50 day moving average is $79.76 and its 200-day moving average is $68.91.

Insider Activity

In other news, EVP Kristin Ruzicka sold 2,129 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $77.25, for a total value of $164,465.25. Following the transaction, the executive vice president owned 15,673 shares of the company’s stock, valued at approximately $1,210,739.25. This represents a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Weatherford International

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Weatherford International by 157.3% in the 4th quarter. Farther Finance Advisors LLC now owns 705 shares of the company’s stock valued at $55,000 after buying an additional 431 shares in the last quarter. Stanley Laman Group Ltd. boosted its position in shares of Weatherford International by 5.7% in the fourth quarter. Stanley Laman Group Ltd. now owns 75,363 shares of the company’s stock valued at $5,898,000 after acquiring an additional 4,086 shares during the period. Deprince Race & Zollo Inc. boosted its position in shares of Weatherford International by 77.6% in the fourth quarter. Deprince Race & Zollo Inc. now owns 537,851 shares of the company’s stock valued at $42,092,000 after acquiring an additional 234,989 shares during the period. Choreo LLC acquired a new position in shares of Weatherford International in the fourth quarter valued at about $263,000. Finally, Massachusetts Financial Services Co. MA increased its position in Weatherford International by 34.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 71,747 shares of the company’s stock worth $5,615,000 after acquiring an additional 18,224 shares during the period. 97.23% of the stock is currently owned by institutional investors.

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.