Weatherford International (NASDAQ:WFRD) Given New $154.00 Price Target at Barclays

Key Points

• Barclays trimmed its price target on Weatherford International from $156 to $154 but kept an overweight rating, implying about 88% upside from the current share price.
• Weatherford shares were trading around $81.81, well below the new target and near the middle of their 52-week range of $52.33 to $113.15.
• The company recently reported better-than-expected earnings, with quarterly EPS of $1.49 versus the $1.02 consensus, even though revenue declined 3.4% year over year.

Weatherford International (NASDAQ:WFRD - Get Free Report) had its price target lowered by research analysts at Barclays from $156.00 to $154.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective suggests a potential upside of 88.24% from the stock's current price.

A number of other research analysts have also recently commented on WFRD. Weiss Ratings cut shares of Weatherford International from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday. Zacks Research lowered shares of Weatherford International from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Raymond James Financial lowered their price objective on shares of Weatherford International from $125.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday, July 10th. Royal Bank Of Canada began coverage on shares of Weatherford International in a research note on Wednesday, March 18th. They issued an "outperform" rating and a $105.00 price objective for the company. Finally, Citigroup cut their target price on shares of Weatherford International from $137.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, June 26th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.78.

Weatherford International Trading Down 0.2%

Shares of WFRD opened at $81.81 on Thursday. Weatherford International has a 52-week low of $52.33 and a 52-week high of $113.15. The business's fifty day moving average is $96.41 and its 200-day moving average is $95.73. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.74 and a beta of 0.86.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.47. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.Weatherford International's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Equities analysts anticipate that Weatherford International will post 6.07 EPS for the current fiscal year.

Institutional Trading of Weatherford International

Several institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its holdings in Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company's stock worth $25,000 after buying an additional 178 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Weatherford International in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company's stock valued at $28,000 after buying an additional 253 shares during the period. Leonteq Securities AG bought a new position in shares of Weatherford International during the fourth quarter worth about $39,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Weatherford International during the third quarter worth about $52,000. 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.

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