Weatherford International (NASDAQ:WFRD) Price Target Cut to $151.00 by Analysts at Barclays

Weatherford International (NASDAQ:WFRD) had its price objective lowered by Barclays from $154.00 to $151.00 in a research report released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings cut shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Citigroup dropped their target price on Weatherford International from $137.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 26th. UBS Group increased their price target on Weatherford International from $105.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Finally, Piper Sandler lifted their price target on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.44.

Weatherford International Stock Performance

Shares of NASDAQ WFRD opened at $88.68 on Friday. Weatherford International has a 12-month low of $52.70 and a 12-month high of $113.15. The company has a market cap of $6.36 billion, a PE ratio of 17.49, a P/E/G ratio of 0.99 and a beta of 0.86. The stock has a 50 day simple moving average of $93.26 and a 200-day simple moving average of $95.84. The company has a current ratio of 2.34, a quick ratio of 1.73 and a debt-to-equity ratio of 0.81.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 21st. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.35). Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business earned $1.87 earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. On average, equities research analysts forecast that Weatherford International will post 5.9 EPS for the current year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be given a $0.275 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.2%. Weatherford International’s dividend payout ratio is presently 21.70%.

Hedge Funds Weigh In On Weatherford International

Institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position in Weatherford International by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Weatherford International in the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its position in Weatherford International by 83.5% during the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares in the last quarter. Leonteq Securities AG acquired a new stake in Weatherford International in the fourth quarter valued at approximately $39,000. Finally, Johnson Financial Group Inc. bought a new stake in Weatherford International in the third quarter worth approximately $52,000. 97.23% of the stock is currently owned by hedge funds and other 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.