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

Weatherford International (NASDAQ:WFRD) had its target price cut by equities researchers at Barclays from $156.00 to $154.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 90.83% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada started coverage on shares of Weatherford International in a research report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 target price on the stock. Zacks Research lowered Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Raymond James Financial dropped their price objective on Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. UBS Group raised their price objective on Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Finally, Citigroup decreased their target price on Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.78.

Weatherford International Trading Up 0.3%

NASDAQ WFRD opened at $80.70 on Thursday. The stock has a market cap of $5.79 billion, a PE ratio of 12.63, a PEG ratio of 0.92 and a beta of 0.86. Weatherford International has a 12 month low of $52.59 and a 12 month high of $113.15. The company’s 50-day moving average price is $95.54 and its 200-day moving average price is $95.64. The company has a current ratio of 2.31, a quick ratio of 1.73 and a debt-to-equity ratio of 0.83.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.47. The company had revenue of $1.15 billion during 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%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Equities research analysts forecast that Weatherford International will post 5.94 earnings per share for the current year.

Institutional Investors Weigh In On Weatherford International

Several hedge funds have recently modified their holdings of WFRD. Insight Wealth Strategies LLC increased its holdings in Weatherford International by 6.3% during the second quarter. Insight Wealth Strategies LLC now owns 64,018 shares of the company’s stock valued at $5,135,000 after buying an additional 3,797 shares during the period. Foster Group Inc. bought a new position in Weatherford International in the second quarter worth approximately $739,000. GAMMA Investing LLC lifted its holdings in Weatherford International by 9.0% during the second quarter. GAMMA Investing LLC now owns 2,191 shares of the company’s stock worth $179,000 after buying an additional 181 shares during the period. Amundi lifted its holdings in Weatherford International by 89.8% during the first quarter. Amundi now owns 18,869 shares of the company’s stock worth $1,785,000 after buying an additional 8,925 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Weatherford International by 32.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $88,000 after acquiring an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

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.