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

Weatherford International (NASDAQ:WFRD) had its price objective trimmed by Barclays from $114.00 to $111.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on the stock. 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, January 21st. The Goldman Sachs Group upped their price objective on shares of Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. Citigroup upped their price objective on shares of Weatherford International from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, Piper Sandler upped their price objective on shares of Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned 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 $99.78.

Weatherford International Trading Up 1.1%

Shares of Weatherford International stock opened at $103.30 on Thursday. The firm has a 50-day simple moving average of $97.04 and a two-hundred day simple moving average of $83.03. The company has a market cap of $7.41 billion, a P/E ratio of 17.42 and a beta of 0.83. Weatherford International has a fifty-two week low of $39.54 and a fifty-two week high of $110.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.65 and a current ratio of 2.19.

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

Weatherford International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 6th were paid a dividend of $0.275 per share. This is an increase from Weatherford International’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, February 6th. Weatherford International’s dividend payout ratio is presently 18.55%.

Insider Activity at Weatherford International

In other news, CEO Girish Saligram sold 100,000 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.09% of the stock is owned by corporate insiders.

Institutional Trading of Weatherford International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital Research Global Investors increased its stake in shares of Weatherford International by 1.8% during the third quarter. Capital Research Global Investors now owns 5,673,603 shares of the company’s stock worth $388,245,000 after purchasing an additional 98,663 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Weatherford International by 5.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,156,773 shares of the company’s stock worth $403,571,000 after acquiring an additional 281,984 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Weatherford International by 3.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,928,226 shares of the company’s stock worth $150,903,000 after acquiring an additional 66,553 shares during the last quarter. Holocene Advisors LP boosted its position in Weatherford International by 712.8% during the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock worth $82,812,000 after acquiring an additional 1,443,512 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Weatherford International by 43.5% during the third quarter. First Trust Advisors LP now owns 1,572,422 shares of the company’s stock worth $107,601,000 after acquiring an additional 476,575 shares during the last quarter. Hedge funds and other institutional investors 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.