Barclays Cuts Weatherford International (NASDAQ:WFRD) Price Target to $109.00

Weatherford International (NASDAQ:WFRD) had its price objective decreased by Barclays from $111.00 to $109.00 in a research report report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on WFRD. UBS Group began coverage on Weatherford International in a research note on Tuesday, December 2nd. They set a “neutral” rating and a $82.00 price objective on the stock. Piper Sandler increased their price target on shares of Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday. Zacks Research cut Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Finally, Citigroup lifted their target price on shares of Weatherford International from $77.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.00.

Weatherford International Trading Up 0.9%

Shares of WFRD stock opened at $89.93 on Friday. The firm has a market cap of $6.45 billion, a P/E ratio of 16.29 and a beta of 0.79. The business has a 50-day moving average price of $79.76 and a two-hundred day moving average price of $69.00. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.93. Weatherford International has a 12-month low of $36.74 and a 12-month high of $93.14.

Insider Activity at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of Weatherford International stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $77.25, for a total transaction of $164,465.25. Following the transaction, the executive vice president directly owned 15,673 shares of the company’s stock, valued at $1,210,739.25. The trade was a 11.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Weatherford International

A number of hedge funds have recently made changes to their positions in the business. Quent Capital LLC bought a new position in Weatherford International in the 3rd quarter worth approximately $26,000. Sound Income Strategies LLC purchased a new stake in Weatherford International in the 3rd quarter worth about $35,000. Elevation Point Wealth Partners LLC bought a new stake in Weatherford International in the second quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its holdings in Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Weatherford International by 69.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock worth $29,000 after buying an additional 240 shares during the period. Institutional investors own 97.23% of the company’s stock.

About Weatherford International

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.