Weatherford International (NASDAQ:WFRD) Stock Gets Price Target Trim from Barclays

Key Points

• Barclays lowered Weatherford International’s price target to $148 from $151 while maintaining an “overweight” rating, implying approximately 98.8% upside from the stock’s $74.44 price.
• Analyst sentiment remains broadly positive, with six Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with an average target price of $116.86.
• Weatherford shares fell 1.3% to $74.44, while the company’s latest quarterly results missed earnings expectations: EPS was $0.55 versus a $0.90 consensus estimate, although revenue exceeded forecasts at $1.10 billion.

Weatherford International (NASDAQ:WFRD - Get Free Report) had its price objective decreased by analysts at Barclays from $151.00 to $148.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price suggests a potential upside of 98.82% from the company's current price.

Other research analysts have also issued research reports about the stock. UBS Group cut their price target on shares of Weatherford International from $120.00 to $116.00 and set a "buy" rating on the stock in a research note on Wednesday, September 23rd. Citigroup lowered their price objective on shares of Weatherford International from $137.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, June 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Weatherford International in a research report on Monday. Zacks Research lowered shares of Weatherford International from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 12th. Finally, The Goldman Sachs Group cut their price objective on shares of Weatherford International from $106.00 to $94.00 and set a "neutral" rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $116.86.

Weatherford International Trading Down 1.3%

Shares of Weatherford International stock traded down $1.01 during trading hours on Thursday, hitting $74.44. The company's stock had a trading volume of 129,857 shares, compared to its average volume of 1,226,865. Weatherford International has a 12 month low of $61.75 and a 12 month high of $113.15. The stock has a 50 day moving average of $87.11 and a 200 day moving average of $92.87. The company has a market capitalization of $5.32 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.34 and a quick ratio of 1.77.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.35). Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm earned $1.87 EPS. The company's revenue for the quarter was down 8.2% on a year-over-year basis. Analysts predict that Weatherford International will post 5.22 earnings per share for the current year.

Insider Buying and Selling

In other Weatherford International news, Director Jacqueline C. Mutschler sold 4,094 shares of Weatherford International stock in a transaction on Monday, August 10th. The shares were sold at an average price of $90.50, for a total value of $370,507.00. Following the sale, the director directly owned 29,093 shares in the company, valued at approximately $2,632,916.50. The trade was a 12.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neal P. Goldman sold 16,000 shares of the business's stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $84.84, for a total transaction of $1,357,440.00. Following the sale, the director directly owned 12,187 shares in the company, valued at $1,033,945.08. This trade represents a 56.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 26,094 shares of company stock worth $2,244,487. 2.07% of the stock is owned by insiders.

Institutional Trading of Weatherford International

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc lifted its position in Weatherford International by 72.0% during the second quarter. IFP Advisors Inc now owns 313 shares of the company's stock worth $26,000 after acquiring an additional 131 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Weatherford International during the second quarter worth approximately $38,000. Summit Securities Group LLC bought a new stake in shares of Weatherford International during the first quarter worth approximately $53,000. EverSource Wealth Advisors LLC grew its position in shares of Weatherford International by 32.8% in the first quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $88,000 after purchasing an additional 231 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Weatherford International by 31.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,770 shares of the company's stock valued at $144,000 after purchasing an additional 420 shares during the last quarter. Institutional investors own 97.23% of the company's stock.

About Weatherford International

Weatherford International plc is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the exploration, drilling, completion, production and intervention stages of the well life cycle, helping energy companies develop and manage onshore and offshore assets.

The company's portfolio includes drilling and formation-evaluation services, well construction and completion technologies, production optimization, artificial-lift systems, well intervention and pressure-control services.

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