Citigroup Cuts Weatherford International (NASDAQ:WFRD) Price Target to $110.00

Weatherford International (NASDAQ:WFRD) had its price target decreased by stock analysts at Citigroup from $115.00 to $110.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 41.70% from the stock’s current price.

WFRD has been the subject of a number of other research reports. Barclays reduced their target price on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a report on Thursday, October 24th. Bank of America decreased their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Evercore ISI decreased their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Six analysts have rated the stock with a buy rating and one has issued 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 $146.57.

Weatherford International Price Performance

NASDAQ:WFRD opened at $77.63 on Monday. The firm’s fifty day moving average price is $85.09 and its two-hundred day moving average price is $101.45. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The company has a market cap of $5.64 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.65 and a beta of 0.58. Weatherford International has a one year low of $76.84 and a one year high of $135.00.

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

Insider Buying and Selling at Weatherford International

In related news, CAO Desmond J. Mills sold 6,531 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after purchasing an additional 281 shares during the last quarter. nVerses Capital LLC bought a new stake in Weatherford International in the third quarter worth about $34,000. Millburn Ridgefield Corp purchased a new position in Weatherford International in the third quarter valued at about $42,000. Fifth Third Bancorp grew its holdings in Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after purchasing an additional 85 shares during the period. Finally, GAMMA Investing LLC increased its position in Weatherford International by 36.9% in the third quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after buying an additional 141 shares during the last quarter. 97.23% of the stock is currently 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.