Weatherford International (NASDAQ:WFRD) Price Target Lowered to $95.00 at Citigroup

Weatherford International (NASDAQ:WFRD) had its target price decreased by Citigroup from $110.00 to $95.00 in a research report released on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts have also commented on the company. Bank of America cut their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Evercore ISI dropped their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Piper Sandler initiated coverage on shares of Weatherford International in a report on Thursday. They set a “neutral” rating and a $87.00 price objective on the stock. Benchmark reissued a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group cut shares of Weatherford International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.25.

Weatherford International Stock Performance

NASDAQ WFRD opened at $67.10 on Friday. The firm’s 50 day simple moving average is $81.97 and its 200 day simple moving average is $98.92. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. Weatherford International has a 1 year low of $66.23 and a 1 year high of $135.00. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.64 and a beta of 0.58.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the company posted $1.66 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts expect that Weatherford International will post 6.85 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, November 6th. Weatherford International’s dividend payout ratio is 14.04%.

Insider Activity

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the transaction, the chief accounting officer now owns 11,680 shares in the company, valued at approximately $932,764.80. This represents a 35.86 % 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. Insiders own 1.60% of the company’s stock.

Institutional Trading of Weatherford International

A number of hedge funds and other institutional investors have recently modified their holdings of WFRD. Raymond James & Associates raised its stake in shares of Weatherford International by 25.7% in the second quarter. Raymond James & Associates now owns 97,101 shares of the company’s stock worth $11,890,000 after purchasing an additional 19,853 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after purchasing an additional 85 shares in the last quarter. Calamos Advisors LLC raised its position in shares of Weatherford International by 2.9% during the second quarter. Calamos Advisors LLC now owns 27,432 shares of the company’s stock valued at $3,359,000 after buying an additional 786 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Weatherford International by 187.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 46,559 shares of the company’s stock worth $5,701,000 after purchasing an additional 30,338 shares in the last quarter. Finally, Legato Capital Management LLC lifted its position in shares of Weatherford International by 3.3% in the second quarter. Legato Capital Management LLC now owns 25,131 shares of the company’s stock worth $3,077,000 after buying an additional 809 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

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.