Citigroup Cuts Weatherford International (NASDAQ:WFRD) Price Target to $110.00

Weatherford International (NASDAQ:WFRD) had its price objective decreased by Citigroup from $115.00 to $110.00 in a report issued on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

WFRD has been the topic of a number of other reports. Barclays reduced their price target on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Bank of America cut their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Evercore ISI decreased 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. Finally, Benchmark reissued a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Thursday, October 24th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $146.57.

Weatherford International Stock Performance

NASDAQ WFRD opened at $80.52 on Monday. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. Weatherford International has a twelve month low of $76.39 and a twelve month high of $135.00. The business has a 50-day moving average price of $84.76 and a 200-day moving average price of $101.04. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 0.65 and a beta of 0.58.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, topping 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%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 EPS. As a group, equities research analysts predict that Weatherford International will post 6.85 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Insider Buying and Selling

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the transaction, the chief accounting officer now directly owns 11,680 shares in the company, valued at $932,764.80. This trade represents a 35.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Weatherford International

Hedge funds have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Weatherford International during the second quarter valued at approximately $20,584,000. Cetera Investment Advisers purchased a new stake in Weatherford International during the first quarter worth $2,132,000. Merewether Investment Management LP boosted its position in Weatherford International by 38.8% during the 2nd quarter. Merewether Investment Management LP now owns 549,803 shares of the company’s stock valued at $67,323,000 after acquiring an additional 153,800 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Weatherford International by 33.0% in the 2nd quarter. Millennium Management LLC now owns 631,862 shares of the company’s stock valued at $77,372,000 after acquiring an additional 156,756 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Weatherford International by 1,138.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,124 shares of the company’s stock worth $2,728,000 after acquiring an additional 29,530 shares in the last quarter. 97.23% of the stock is currently owned by hedge funds and other 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.