Weatherford International (NASDAQ:WFRD) PT Lowered to $130.00

Weatherford International (NASDAQ:WFRD) had its price objective reduced by Citigroup from $155.00 to $130.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on WFRD. Bank of America raised their price target on Weatherford International from $145.00 to $150.00 and gave the stock a buy rating in a research note on Monday, July 15th. Barclays raised their target price on Weatherford International from $160.00 to $165.00 and gave the stock an overweight rating in a research report on Thursday, July 25th. Benchmark reaffirmed a buy rating and set a $155.00 price target on shares of Weatherford International in a research report on Wednesday, July 24th. Finally, Raymond James reduced their price target 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. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Weatherford International presently has an average rating of Buy and an average target price of $150.75.

Weatherford International Stock Up 1.3 %

Shares of Weatherford International stock opened at $85.17 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.47 and a current ratio of 1.99. The stock has a market capitalization of $6.23 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61. Weatherford International has a 52-week low of $82.16 and a 52-week high of $135.00. The company has a 50-day simple moving average of $102.98 and a two-hundred day simple moving average of $113.95.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts anticipate that Weatherford International will post 6.81 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.17%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s dividend payout ratio is 16.18%.

Insider Buying and Selling

In related news, EVP David John Reed sold 6,805 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Weatherford International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in Weatherford International in the 1st quarter worth approximately $29,000. Fidelis Capital Partners LLC purchased a new stake in Weatherford International during the 1st quarter valued at approximately $33,000. Parallel Advisors LLC grew its holdings in Weatherford International by 189.0% during the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after buying an additional 189 shares in the last quarter. Rise Advisors LLC purchased a new stake in Weatherford International during the 1st quarter valued at approximately $34,000. Finally, Quadrant Capital Group LLC grew its holdings in Weatherford International by 539.1% during the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after buying an additional 248 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

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.