Weatherford International (NASDAQ:WFRD) Given New $115.00 Price Target at Citigroup

Weatherford International (NASDAQ:WFRD) had its price objective trimmed by Citigroup from $130.00 to $115.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. Barclays reduced their price objective on Weatherford International from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Benchmark reaffirmed a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Raymond James dropped their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Bank of America dropped their target price on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Evercore ISI dropped their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $147.29.

Weatherford International Trading Down 2.0 %

Shares of NASDAQ WFRD opened at $81.86 on Thursday. Weatherford International has a 12 month low of $77.00 and a 12 month high of $135.00. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 0.69 and a beta of 0.60. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. The business has a fifty day simple moving average of $87.59 and a 200-day simple moving average of $105.96.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. Weatherford International’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 earnings per share. Sell-side analysts predict that Weatherford International will post 6.91 EPS for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 6th. Weatherford International’s dividend payout ratio is 14.04%.

Insider Activity

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the sale, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at $932,764.80. This trade represents a 35.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David John Reed sold 6,805 shares of the firm’s 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 disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Weatherford International

Hedge funds have recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in shares of Weatherford International in the 1st quarter worth approximately $29,000. Farther Finance Advisors LLC lifted its position in shares of Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after buying an additional 281 shares during the period. nVerses Capital LLC bought a new position in shares of Weatherford International during the 3rd quarter worth approximately $34,000. Millburn Ridgefield Corp bought a new position in shares of Weatherford International during the 3rd quarter worth approximately $42,000. Finally, Fifth Third Bancorp lifted its position in shares of Weatherford International by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after buying an additional 85 shares during the period. Institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

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.