Weatherford International (NASDAQ:WFRD) Given New $142.00 Price Target at Evercore ISI

by · The Markets Daily

Weatherford International (NASDAQ:WFRD – Free Report) had its price target decreased by Evercore ISI from $149.00 to $142.00 in a report released on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research firms have also weighed in on WFRD. Citigroup lowered their price objective on Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Raymond James lowered their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Benchmark restated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a report on Thursday. Barclays reduced their price objective on shares of Weatherford International from $165.00 to $154.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Bank of America dropped their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $145.75.

Check Out Our Latest Analysis on WFRD

Weatherford International Stock Performance

Shares of WFRD stock opened at $77.31 on Thursday. The stock has a market capitalization of $5.66 billion, a PE ratio of 10.86, a PEG ratio of 0.86 and a beta of 0.58. The business’s 50 day simple moving average is $93.88 and its 200 day simple moving average is $110.16. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. Weatherford International has a one year low of $77.29 and a one year high of $135.00.

Weatherford International (NASDAQ:WFRD – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 49.11%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm posted $1.66 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts forecast that Weatherford International will post 6.56 earnings per share for the current year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Insiders Place Their Bets

In other news, EVP David John Reed sold 6,805 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

A number of hedge funds have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new position in shares of Weatherford International in the first quarter valued at approximately $29,000. Fidelis Capital Partners LLC purchased a new stake in Weatherford International in the 1st quarter valued at $33,000. nVerses Capital LLC bought a new position in Weatherford International during the 3rd quarter valued at $34,000. Fifth Third Bancorp boosted its holdings in Weatherford International by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after acquiring an additional 85 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Weatherford International by 36.9% during the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company’s stock worth $44,000 after acquiring an additional 141 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, 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.

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