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Weatherford International (NASDAQ:WFRD) Price Target Increased to $38.00 by Analysts at The Goldman Sachs Group

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Weatherford International (NASDAQ:WFRD – Get Rating) had its target price boosted by The Goldman Sachs Group from $30.00 to $38.00 in a research report released on Wednesday morning, MarketBeat.com reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Weatherford International in a research report on Wednesday, June 8th. They issued a buy rating and a $49.00 target price for the company. Evercore ISI reaffirmed an outperform rating and issued a $53.00 target price on shares of Weatherford International in a research report on Tuesday, September 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $46.80.

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Weatherford International Stock Performance

WFRD stock opened at $30.15 on Wednesday. The stock has a 50-day moving average price of $25.22 and a 200-day moving average price of $28.92. Weatherford International has a 1-year low of $16.53 and a 1-year high of $40.16. The company has a current ratio of 2.18, a quick ratio of 1.66 and a debt-to-equity ratio of 4.82. The firm has a market cap of $2.13 billion, a PE ratio of -6.39 and a beta of 1.40.

Weatherford International (NASDAQ:WFRD – Get Rating) last issued its earnings results on Wednesday, July 27th. The company reported ($0.11) EPS for the quarter. Weatherford International had a negative net margin of 8.44% and a negative return on equity of 26.60%. The firm had revenue of $1.06 billion during the quarter. As a group, equities research analysts expect that Weatherford International will post -0.7 earnings per share for the current year.

Institutional Trading of Weatherford International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in shares of Weatherford International by 51.0% in the 4th quarter. Northern Trust Corp now owns 170,855 shares of the company's stock worth $4,736,000 after buying an additional 57,689 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Weatherford International by 105.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 282,114 shares of the company's stock worth $7,818,000 after buying an additional 144,645 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Weatherford International in the 4th quarter worth approximately $887,000. Wolverine Trading LLC boosted its stake in shares of Weatherford International by 111.6% in the 4th quarter. Wolverine Trading LLC now owns 41,487 shares of the company's stock worth $1,091,000 after buying an additional 21,877 shares during the last quarter. Finally, Beaconlight Capital LLC purchased a new position in shares of Weatherford International in the 4th quarter worth approximately $1,615,000. 94.13% of the stock is owned by institutional investors.

Weatherford International Company Profile

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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 in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing, cementing, and coiled-tubing intervention; and drill stem test tools, surface well testing, and multiphase flow measurement services.

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