Weatherford International (NASDAQ:WFRD) Given New $137.00 Price Target at Citigroup

Weatherford International (NASDAQ:WFRD) had its target price raised by research analysts at Citigroup from $134.00 to $137.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 31.60% from the company’s current price.

Several other equities research analysts also recently weighed in on WFRD. Weiss Ratings downgraded Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Zacks Research downgraded Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. UBS Group upped their price target on Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. The Goldman Sachs Group upped their price target on Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Finally, Barclays upped their price target on Weatherford International from $111.00 to $156.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.67.

Weatherford International Trading Up 0.4%

Shares of WFRD stock traded up $0.38 on Wednesday, hitting $104.10. The stock had a trading volume of 476,070 shares, compared to its average volume of 1,298,821. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.31 and a quick ratio of 1.73. The firm has a market capitalization of $7.49 billion, a P/E ratio of 16.30, a P/E/G ratio of 0.92 and a beta of 0.82. Weatherford International has a 1 year low of $45.97 and a 1 year high of $113.15. The company’s 50 day moving average price is $102.58 and its 200-day moving average price is $92.44.

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

Hedge Funds Weigh In On Weatherford International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in Weatherford International by 223.0% during the first quarter. Royal Bank of Canada now owns 122,662 shares of the company’s stock valued at $6,568,000 after buying an additional 84,684 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Weatherford International by 129.3% in the first quarter. Goldman Sachs Group Inc. now owns 143,703 shares of the company’s stock valued at $7,695,000 after purchasing an additional 81,046 shares during the last quarter. United Services Automobile Association acquired a new stake in Weatherford International during the first quarter valued at approximately $258,000. Cetera Investment Advisers grew its holdings in Weatherford International by 26.8% during the 2nd quarter. Cetera Investment Advisers now owns 12,764 shares of the company’s stock worth $642,000 after acquiring an additional 2,695 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Weatherford International by 83.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after purchasing an additional 253 shares during the period. 97.23% of the stock is owned by institutional investors.

Weatherford International Company Profile

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.