Weatherford International (NASDAQ:WFRD) Price Target Raised to $94.00

Weatherford International (NASDAQ:WFRD) had its price target lifted by research analysts at UBS Group from $82.00 to $94.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential downside of 5.37% from the company’s current price.

Several other brokerages have also weighed in on WFRD. The Goldman Sachs Group boosted their price objective on Weatherford International from $66.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Zacks Research lowered Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Barclays decreased their price objective on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. BMO Capital Markets initiated coverage on shares of Weatherford International in a research report on Friday, October 10th. They issued an “outperform” rating and a $82.00 price target on the stock. Finally, Citigroup boosted their price objective on Weatherford International from $77.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.33.

Weatherford International Stock Down 0.6%

Shares of WFRD traded down $0.63 during trading on Thursday, reaching $99.34. The company’s stock had a trading volume of 237,107 shares, compared to its average volume of 1,284,552. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 16.74 and a beta of 0.79. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average of $83.26 and a two-hundred day moving average of $71.08. Weatherford International has a twelve month low of $36.74 and a twelve month high of $101.99.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.49. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. Weatherford International had a net margin of 8.76% and a return on equity of 29.08%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business earned $1.50 EPS. On average, sell-side analysts predict that Weatherford International will post 5.89 EPS for the current fiscal year.

Insider Activity at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of Weatherford International stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $77.25, for a total value of $164,465.25. Following the completion of the transaction, the executive vice president owned 15,673 shares of the company’s stock, valued at $1,210,739.25. This trade represents a 11.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WFRD. New York State Common Retirement Fund boosted its holdings in Weatherford International by 20.3% in the third quarter. New York State Common Retirement Fund now owns 326,892 shares of the company’s stock worth $22,369,000 after acquiring an additional 55,183 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Weatherford International by 110.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 708,180 shares of the company’s stock valued at $35,629,000 after acquiring an additional 372,192 shares during the period. SummerHaven Investment Management LLC purchased a new stake in shares of Weatherford International in the 3rd quarter valued at $1,014,000. Cooke & Bieler LP raised its holdings in shares of Weatherford International by 6.0% during the third quarter. Cooke & Bieler LP now owns 303,850 shares of the company’s stock worth $20,792,000 after purchasing an additional 17,330 shares during the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new stake in Weatherford International in the third quarter valued at $20,725,000. 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.