Bank of America Trims Weatherford International (NASDAQ:WFRD) Target Price to $130.00

Weatherford International (NASDAQ:WFRD) had its price target lowered by Bank of America from $145.00 to $130.00 in a research note issued to investors on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research analysts have also weighed in on WFRD. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research note on Wednesday, July 24th. Barclays boosted their price objective on shares of Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Raymond James lowered their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Finally, Citigroup cut their price target on Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. 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 MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $146.88.

Weatherford International Stock Performance

Shares of Weatherford International stock opened at $91.71 on Monday. The stock’s fifty day simple moving average is $96.68 and its 200 day simple moving average is $111.71. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $6.71 billion, a PE ratio of 13.65, a PEG ratio of 0.67 and a beta of 0.58. Weatherford International has a 12 month low of $82.16 and a 12 month high of $135.00.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the business earned $1.12 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts predict that Weatherford International will post 6.72 EPS for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Tuesday, August 13th. Weatherford International’s payout ratio is presently 14.88%.

Insider Buying and Selling

In related news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Boston Partners lifted its holdings in shares of Weatherford International by 19.3% during the first quarter. Boston Partners now owns 2,722,281 shares of the company’s stock worth $315,240,000 after buying an additional 439,700 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Weatherford International during the 2nd quarter worth approximately $51,287,000. Westwood Holdings Group Inc. increased its holdings in shares of Weatherford International by 5,525.3% during the first quarter. Westwood Holdings Group Inc. now owns 359,569 shares of the company’s stock worth $41,501,000 after purchasing an additional 353,177 shares during the period. Marshall Wace LLP raised its position in shares of Weatherford International by 89.0% in the second quarter. Marshall Wace LLP now owns 612,242 shares of the company’s stock valued at $74,969,000 after buying an additional 288,290 shares in the last quarter. Finally, AGF Management Ltd. acquired a new stake in Weatherford International during the second quarter worth approximately $33,951,000. Institutional investors and hedge funds 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.