Benchmark Lowers Weatherford International (NASDAQ:WFRD) Price Target to $125.00

Weatherford International (NASDAQ:WFRD) had its price target cut by Benchmark from $140.00 to $125.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

WFRD has been the subject of a number of other research reports. Bank of America cut their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays cut their price target on Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Piper Sandler began coverage on Weatherford International in a research note on Thursday, December 19th. They set a “neutral” rating and a $87.00 price objective on the stock. Raymond James cut their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research note on Friday. Finally, Citigroup lowered their price target on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $109.88.

Weatherford International Stock Performance

NASDAQ WFRD opened at $66.85 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.80 and a quick ratio of 1.49. Weatherford International has a 1-year low of $60.45 and a 1-year high of $135.00. The company has a market cap of $4.86 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. The stock’s 50 day simple moving average is $71.68 and its 200-day simple moving average is $86.45.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. As a group, equities research analysts anticipate that Weatherford International will post 6.14 EPS for the current fiscal year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, February 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.50%. Weatherford International’s dividend payout ratio (DPR) is currently 14.88%.

Insider Buying and Selling at Weatherford International

In other news, EVP David John Reed sold 4,762 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the sale, the executive vice president now directly owns 11,109 shares of the company’s stock, valued at approximately $807,179.94. The trade was a 30.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $8,272,507.23. The trade was a 26.25 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Weatherford International

Institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Weatherford International by 364.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after acquiring an additional 281 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after purchasing an additional 204 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Weatherford International in the third quarter valued at approximately $34,000. Millburn Ridgefield Corp acquired a new stake in Weatherford International during the 3rd quarter worth approximately $42,000. Finally, R Squared Ltd purchased a new position in Weatherford International in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

About Weatherford International

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.