Weatherford International (NASDAQ:WFRD) Price Target Cut to $70.00 by Analysts at Citigroup

Weatherford International (NASDAQ:WFRD) had its price target lowered by investment analysts at Citigroup from $90.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 40.03% from the stock’s previous close.

WFRD has been the topic of several other reports. Benchmark dropped their price objective 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. Raymond James cut Weatherford International from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $73.00 to $69.00 in a research report on Thursday, April 24th. Piper Sandler dropped their price objective on Weatherford International from $80.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Finally, Barclays dropped their price objective on Weatherford International from $85.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.63.

Weatherford International Trading Up 0.9%

Shares of NASDAQ:WFRD opened at $49.99 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49. Weatherford International has a 1 year low of $36.74 and a 1 year high of $135.00. The company has a market cap of $3.63 billion, a P/E ratio of 7.44, a PEG ratio of 1.65 and a beta of 0.73. The stock’s fifty day moving average price is $47.37 and its 200-day moving average price is $64.31.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Sell-side analysts expect that Weatherford International will post 5.89 earnings per share for the current year.

Insider Buying and Selling at Weatherford International

In related news, Director Neal P. Goldman acquired 12,000 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were purchased at an average price of $42.04 per share, with a total value of $504,480.00. Following the completion of the purchase, the director now directly owns 25,311 shares of the company’s stock, valued at $1,064,074.44. This represents a 90.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Penn Capital Management Company LLC raised its stake in shares of Weatherford International by 45.5% in the first quarter. Penn Capital Management Company LLC now owns 265,327 shares of the company’s stock worth $14,248,000 after buying an additional 83,000 shares during the period. HITE Hedge Asset Management LLC bought a new position in shares of Weatherford International in the first quarter worth about $9,914,000. Fuller & Thaler Asset Management Inc. raised its stake in shares of Weatherford International by 13.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,474,131 shares of the company’s stock worth $78,940,000 after buying an additional 171,124 shares during the period. Brooklyn Investment Group raised its stake in shares of Weatherford International by 30,600.0% in the first quarter. Brooklyn Investment Group now owns 614 shares of the company’s stock worth $33,000 after buying an additional 612 shares during the period. Finally, Algert Global LLC bought a new position in shares of Weatherford International in the first quarter worth about $522,000. Institutional investors 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.