Citigroup Issues Pessimistic Forecast for Weatherford International (NASDAQ:WFRD) Stock Price

Weatherford International (NASDAQ:WFRD) had its target price cut by research analysts at Citigroup from $137.00 to $115.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 39.00% from the stock’s current price.

WFRD has been the subject of a number of other research reports. Wall Street Zen upgraded shares of Weatherford International from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Barclays boosted their target price on Weatherford International from $111.00 to $156.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Zacks Research raised Weatherford International from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Weiss Ratings downgraded Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Finally, The Goldman Sachs Group upped their price objective on Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $108.22.

Weatherford International Stock Performance

Weatherford International stock traded down $2.10 during trading hours on Friday, reaching $82.74. 1,310,871 shares of the stock were exchanged, compared to its average volume of 1,301,554. The stock has a market cap of $5.95 billion, a P/E ratio of 12.95, a P/E/G ratio of 0.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. Weatherford International has a 52-week low of $49.37 and a 52-week high of $113.15. The firm’s 50 day moving average is $102.67 and its 200 day moving average is $95.38.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.47. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. Analysts predict that Weatherford International will post 6.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its stake in shares of Weatherford International by 1.8% during the 3rd quarter. Capital Research Global Investors now owns 5,673,603 shares of the company’s stock worth $388,245,000 after acquiring an additional 98,663 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Weatherford International by 5.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,156,773 shares of the company’s stock valued at $403,571,000 after purchasing an additional 281,984 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Weatherford International by 3.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,928,226 shares of the company’s stock worth $150,903,000 after purchasing an additional 66,553 shares during the last quarter. First Trust Advisors LP raised its holdings in Weatherford International by 12.4% during the first quarter. First Trust Advisors LP now owns 1,760,467 shares of the company’s stock worth $166,505,000 after purchasing an additional 194,654 shares during the last quarter. Finally, Holocene Advisors LP boosted its position in Weatherford International by 712.8% during the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock worth $82,812,000 after purchasing an additional 1,443,512 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.