UBS Group Cuts Weatherford International (NASDAQ:WFRD) Price Target to $116.00

by · The Markets Daily

Weatherford International (NASDAQ:WFRD – Free Report) had its price target trimmed by UBS Group from $120.00 to $116.00 in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also commented on WFRD. Raymond James Financial lowered their price target on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Zacks Research downgraded Weatherford International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. Weiss Ratings lowered Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Wall Street Zen cut Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Citigroup dropped their price target on Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.50.

View Our Latest Research Report on WFRD

Weatherford International Trading Up 1.1%

Shares of WFRD stock opened at $85.08 on Wednesday. Weatherford International has a fifty-two week low of $60.84 and a fifty-two week high of $113.15. The company has a quick ratio of 1.77, a current ratio of 2.34 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $88.90 and a 200-day simple moving average of $93.87. The stock has a market cap of $6.08 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.44 and a beta of 0.90.

Weatherford International (NASDAQ:WFRD – Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $1.87 earnings per share. Weatherford International’s revenue was down 8.2% on a year-over-year basis. On average, analysts forecast that Weatherford International will post 5.22 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were given a $0.2750 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Thursday, August 6th. Weatherford International’s payout ratio is currently 21.70%.

Insider Activity at Weatherford International

In other Weatherford International news, Director Jacqueline C. Mutschler sold 4,094 shares of Weatherford International stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $90.50, for a total value of $370,507.00. Following the completion of the sale, the director directly owned 29,093 shares of the company’s stock, valued at approximately $2,632,916.50. The trade was a 12.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin Duster, IV sold 6,000 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total value of $516,540.00. Following the completion of the transaction, the director owned 11,187 shares of the company’s stock, valued at $963,088.83. This trade represents a 34.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,094 shares of company stock valued at $2,244,487. Company insiders own 2.07% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

Several hedge funds have recently made changes to their positions in the business. IFP Advisors Inc raised its stake in Weatherford International by 72.0% during the second quarter. IFP Advisors Inc now owns 313 shares of the company’s stock worth $26,000 after purchasing an additional 131 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of Weatherford International during the 2nd quarter valued at $38,000. Leonteq Securities AG purchased a new stake in shares of Weatherford International during the 4th quarter valued at $39,000. Summit Securities Group LLC purchased a new stake in shares of Weatherford International during the 1st quarter valued at $53,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Weatherford International by 24.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock worth $55,000 after buying an additional 137 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Company Profile

(Get Free Report)

Weatherford International plc (NASDAQ: WFRD) is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the exploration, drilling, completion, production and intervention of onshore and offshore wells.

The company’s portfolio includes drilling and well-construction systems, formation evaluation tools, well-completion equipment, production optimization technologies, artificial-lift systems and well-intervention services.

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