Weatherford International (NASDAQ:WFRD) Price Target Lowered to $151.00 at Barclays

Weatherford International (NASDAQ:WFRD) had its price target lowered by stock analysts at Barclays from $154.00 to $151.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 69.93% from the stock’s previous close.

WFRD has been the subject of a number of other reports. Raymond James Financial lowered their price target on Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Wall Street Zen downgraded shares of Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Zacks Research cut shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. UBS Group upped their price objective on shares of Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Finally, Piper Sandler increased their price objective on shares of Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Weatherford International has a consensus rating of “Moderate Buy” and an average target price of $113.44.

Weatherford International Stock Up 3.8%

WFRD traded up $3.26 during trading on Friday, hitting $88.86. 303,487 shares of the company’s stock were exchanged, compared to its average volume of 1,346,079. The stock has a market cap of $6.37 billion, a P/E ratio of 17.50, a PEG ratio of 1.01 and a beta of 0.86. The business’s 50 day moving average is $93.66 and its two-hundred day moving average is $95.89. Weatherford International has a fifty-two week low of $52.70 and a fifty-two week high of $113.15. The company has a quick ratio of 1.73, a current ratio of 3.41 and a debt-to-equity ratio of 0.81.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned $1.87 EPS. The company’s revenue was down 8.2% on a year-over-year basis. As a group, equities analysts expect that Weatherford International will post 5.9 earnings per share for the current fiscal year.

Institutional Trading of Weatherford International

A number of institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in shares of Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Weatherford International during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after acquiring an additional 253 shares during the last quarter. Leonteq Securities AG purchased a new position in Weatherford International in the fourth quarter worth $39,000. Finally, Johnson Financial Group Inc. bought a new position in Weatherford International in the third quarter valued at $52,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.