Bank of America Cuts Weatherford International (NASDAQ:WFRD) Price Target to $130.00

Weatherford International (NASDAQ:WFRD) had its price target trimmed by Bank of America from $145.00 to $130.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on the stock. Citigroup dropped their price target on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Benchmark reiterated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Wednesday, July 24th. Barclays upped their price target on shares of Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Raymond James lowered their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $146.88.

Weatherford International Price Performance

NASDAQ WFRD opened at $91.71 on Monday. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $6.71 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 0.67 and a beta of 0.58. Weatherford International has a 12-month low of $82.16 and a 12-month high of $135.00. The company has a 50 day moving average price of $96.68 and a two-hundred day moving average price of $111.71.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. 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 company posted $1.12 EPS. The business’s revenue was up 10.3% on a year-over-year basis. As a group, equities analysts predict that Weatherford International will post 6.72 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 13th were paid a $0.25 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Weatherford International’s dividend payout ratio is presently 14.88%.

Insider Activity at Weatherford International

In other news, EVP David John Reed sold 6,805 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WFRD. Fifth Third Bancorp grew its position in shares of 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 buying an additional 85 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Weatherford International by 8.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company’s stock valued at $188,000 after acquiring an additional 120 shares during the last quarter. Oliver Luxxe Assets LLC boosted its position in shares of Weatherford International by 1.1% in the 1st quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock worth $1,307,000 after purchasing an additional 125 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Weatherford International by 50.4% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after purchasing an additional 128 shares during the period. Finally, Covestor Ltd increased its holdings in Weatherford International by 23.4% in the first quarter. Covestor Ltd now owns 918 shares of the company’s stock valued at $106,000 after purchasing an additional 174 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

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.