Barclays Lowers Weatherford International (NASDAQ:WFRD) Price Target to $73.00

Weatherford International (NASDAQ:WFRD - Get Free Report) had its price target dropped by investment analysts at Barclays from $77.00 to $73.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price suggests a potential upside of 28.61% from the stock's previous close.

Other analysts have also issued research reports about the stock. Citigroup cut their price objective on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial downgraded Weatherford International from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $73.00 to $69.00 in a research note on Thursday, April 24th. Finally, Piper Sandler decreased their price target on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Weatherford International presently has an average rating of "Moderate Buy" and a consensus price target of $96.13.

Weatherford International Trading Down 2.8%

NASDAQ:WFRD traded down $1.62 during mid-day trading on Thursday, hitting $56.76. The company had a trading volume of 862,981 shares, compared to its average volume of 1,376,955. Weatherford International has a fifty-two week low of $36.74 and a fifty-two week high of $123.04. The business's fifty day moving average is $50.62 and its two-hundred day moving average is $54.62. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.52 and a current ratio of 2.08. The firm has a market cap of $4.12 billion, a P/E ratio of 8.82, a P/E/G ratio of 1.78 and a beta of 0.76.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Weatherford International had a return on equity of 36.08% and a net margin of 9.35%. Weatherford International's revenue was down 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. As a group, research analysts expect that Weatherford International will post 5.89 earnings per share for the current year.

Hedge Funds Weigh In On Weatherford International

Several institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank raised its position in Weatherford International by 190.4% during the fourth quarter. Huntington National Bank now owns 392 shares of the company's stock valued at $28,000 after purchasing an additional 257 shares in the last quarter. Zions Bancorporation N.A. purchased a new position in Weatherford International during the 4th quarter valued at about $29,000. American National Bank & Trust increased its holdings in Weatherford International by 2,392.0% during the 2nd quarter. American National Bank & Trust now owns 623 shares of the company's stock valued at $31,000 after purchasing an additional 598 shares during the period. Fifth Third Bancorp increased its holdings in Weatherford International by 546.7% during the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares during the period. Finally, Brooklyn Investment Group increased its holdings in Weatherford International by 30,600.0% during the 1st quarter. Brooklyn Investment Group now owns 614 shares of the company's stock valued at $33,000 after purchasing an additional 612 shares during the period. 97.23% of the stock is owned by 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.

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