The Goldman Sachs Group Boosts Weatherford International (NASDAQ:WFRD) Price Target to $38.00

Weatherford International (NASDAQ:WFRDGet Rating) had its target price boosted by The Goldman Sachs Group from $30.00 to $38.00 in a research report sent to investors on Wednesday morning, MarketBeat reports. The firm currently has a buy rating on the stock.

WFRD has been the topic of several other research reports. Evercore ISI reaffirmed an outperform rating and issued a $53.00 price target on shares of Weatherford International in a report on Tuesday, September 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Weatherford International in a report on Wednesday, June 8th. They issued a buy rating and a $49.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Weatherford International has an average rating of Buy and an average target price of $46.80.

Weatherford International Trading Down 4.6 %

NASDAQ:WFRD opened at $30.15 on Wednesday. The company has a market cap of $2.13 billion, a P/E ratio of -6.39 and a beta of 1.40. The stock’s fifty day moving average price is $25.22 and its two-hundred day moving average price is $28.92. Weatherford International has a 1 year low of $16.53 and a 1 year high of $40.16. The company has a debt-to-equity ratio of 4.82, a current ratio of 2.18 and a quick ratio of 1.66.

Weatherford International (NASDAQ:WFRDGet Rating) last posted its earnings results on Wednesday, July 27th. The company reported ($0.11) earnings per share (EPS) for the quarter. The company had revenue of $1.06 billion for the quarter. Weatherford International had a negative return on equity of 26.60% and a negative net margin of 8.44%. As a group, analysts expect that Weatherford International will post -0.7 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new position in Weatherford International in the first quarter valued at $25,000. Point72 Hong Kong Ltd bought a new position in Weatherford International in the second quarter valued at $25,000. UBS Group AG increased its stake in Weatherford International by 83.6% in the first quarter. UBS Group AG now owns 5,985 shares of the company’s stock valued at $199,000 after acquiring an additional 2,725 shares during the last quarter. Hsbc Holdings PLC bought a new position in Weatherford International in the first quarter valued at $207,000. Finally, CTC Capital Management LLC bought a new position in Weatherford International in the first quarter valued at $213,000. Institutional investors own 94.13% of the company’s stock.

About Weatherford International

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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 in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing, cementing, and coiled-tubing intervention; and drill stem test tools, surface well testing, and multiphase flow measurement services.

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Analyst Recommendations for Weatherford International (NASDAQ:WFRD)

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