Weatherford International (NASDAQ:WFRD) Price Target Cut to $73.00 by Analysts at Raymond James

Weatherford International (NASDAQ:WFRD) had its price objective trimmed by Raymond James from $97.00 to $73.00 in a report published on Monday morning,Benzinga reports. The firm currently has a strong-buy rating on the stock.

Several other research firms also recently weighed in on WFRD. Citigroup reduced their target price on Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Piper Sandler lowered their price objective on shares of Weatherford International from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Benchmark dropped their target price on Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Barclays reduced their price target on Weatherford International from $92.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.75.

Weatherford International Stock Up 1.1 %

Weatherford International stock opened at $43.49 on Monday. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 6.47, a price-to-earnings-growth ratio of 1.65 and a beta of 0.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.49 and a current ratio of 2.01. Weatherford International has a fifty-two week low of $36.74 and a fifty-two week high of $135.00. The stock’s fifty day moving average is $56.16 and its two-hundred day moving average is $70.68.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. Analysts predict that Weatherford International will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. Weatherford International’s dividend payout ratio (DPR) is 14.88%.

Insider Activity

In other Weatherford International news, CAO Desmond J. Mills sold 19,425 shares of Weatherford International stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.51, for a total value of $1,311,381.75. Following the completion of the transaction, the chief accounting officer now directly owns 17,899 shares in the company, valued at $1,208,361.49. The trade was a 52.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total value of $2,944,895.85. Following the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $8,272,507.23. This trade represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 87,930 shares of company stock valued at $5,861,718. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Weatherford International

A number of large investors have recently modified their holdings of WFRD. Lindbrook Capital LLC grew its position in Weatherford International by 130.8% in the 4th quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after purchasing an additional 204 shares during the last quarter. Huntington National Bank increased its position in Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock valued at $28,000 after acquiring an additional 257 shares during the period. Zions Bancorporation N.A. bought a new stake in Weatherford International during the 4th quarter valued at $29,000. R Squared Ltd acquired a new position in Weatherford International during the 4th quarter worth $36,000. Finally, Covestor Ltd grew its stake in shares of Weatherford International by 30.1% in the fourth quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $66,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

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.