Weatherford International (NASDAQ:WFRD) Given New $147.00 Price Target at Barclays

Weatherford International (NASDAQ:WFRD) had its price objective lowered by Barclays from $154.00 to $147.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on WFRD. Bank of America reduced their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Citigroup cut their price objective on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Raymond James cut their price objective on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 25th. Benchmark restated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research report on Thursday. Finally, Evercore ISI cut their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Weatherford International presently has an average rating of “Buy” and an average target price of $144.88.

Weatherford International Price Performance

Shares of NASDAQ WFRD traded up $3.04 during mid-day trading on Friday, reaching $80.35. The company’s stock had a trading volume of 1,717,479 shares, compared to its average volume of 911,263. The stock has a 50-day moving average of $93.33 and a two-hundred day moving average of $109.86. The stock has a market capitalization of $5.88 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.86 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.47 and a current ratio of 1.99. Weatherford International has a 1-year low of $77.29 and a 1-year high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 49.11%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 earnings per share. On average, equities research analysts anticipate that Weatherford International will post 6.56 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date is Wednesday, November 6th. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Insiders Place Their Bets

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its stake in shares of Weatherford International by 246.1% in the third quarter. State of Alaska Department of Revenue now owns 27,530 shares of the company’s stock valued at $2,337,000 after purchasing an additional 19,575 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in shares of Weatherford International by 7.3% in the third quarter. Legacy Wealth Asset Management LLC now owns 2,997 shares of the company’s stock valued at $255,000 after purchasing an additional 203 shares during the period. Net Worth Advisory Group purchased a new position in shares of Weatherford International in the third quarter valued at approximately $233,000. nVerses Capital LLC acquired a new stake in Weatherford International in the third quarter valued at approximately $34,000. Finally, Oliver Luxxe Assets LLC raised its holdings in Weatherford International by 80.8% in the third quarter. Oliver Luxxe Assets LLC now owns 20,971 shares of the company’s stock valued at $1,781,000 after acquiring an additional 9,372 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

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.