Raymond James Cuts Weatherford International (NASDAQ:WFRD) Price Target to $73.00

Weatherford International (NASDAQ:WFRD) had its price target trimmed by Raymond James from $97.00 to $73.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a strong-buy rating on the stock.

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

Weatherford International Trading Up 1.8 %

Shares of WFRD stock opened at $44.28 on Monday. The business has a 50-day moving average price of $55.27 and a two-hundred day moving average price of $70.31. Weatherford International has a 12-month low of $36.74 and a 12-month high of $135.00. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 1.26. The firm has a market cap of $3.23 billion, a P/E ratio of 6.59, a price-to-earnings-growth ratio of 1.65 and a beta of 0.70.

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

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were issued a $0.25 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 2.26%. Weatherford International’s dividend payout ratio (DPR) is presently 14.88%.

Insider Activity

In other Weatherford International news, EVP Scott C. Weatherholt sold 44,505 shares of Weatherford International stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $8,272,507.23. The trade was a 26.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Desmond J. Mills sold 19,425 shares of the 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 of the company’s stock, valued at $1,208,361.49. This represents a 52.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,930 shares of company stock valued at $5,861,718. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Weatherford International

A number of hedge funds and other institutional investors have recently modified their holdings of WFRD. Lindbrook Capital LLC boosted its stake in Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares in the last quarter. Huntington National Bank boosted its position in shares of Weatherford International by 190.4% in the 4th quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after purchasing an additional 257 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Weatherford International in the 4th quarter worth approximately $29,000. Fifth Third Bancorp increased its position in Weatherford International by 546.7% during the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company’s stock valued at $32,000 after buying an additional 503 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Weatherford International by 55.8% during the first quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock valued at $35,000 after buying an additional 231 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Company Profile

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.