Weatherford International (NASDAQ:WFRD) PT Raised to $152.00

Weatherford International (NASDAQ:WFRD) had its target price upped by equities researchers at Raymond James from $134.00 to $152.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price target would suggest a potential upside of 33.05% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Barclays initiated coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 target price for the company. Benchmark lifted their target price on Weatherford International from $115.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Bank of America lifted their target price on Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a report on Monday. TheStreet raised Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Finally, Piper Sandler lifted their target price on Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $131.00.

Weatherford International Stock Down 1.1 %

WFRD stock traded down $1.32 during mid-day trading on Tuesday, hitting $114.24. 263,760 shares of the company were exchanged, compared to its average volume of 814,343. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79. Weatherford International has a 1-year low of $55.81 and a 1-year high of $127.45. The firm has a market cap of $8.26 billion, a P/E ratio of 20.16 and a beta of 0.73. The firm’s 50 day simple moving average is $110.16 and its 200 day simple moving average is $99.09.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.48. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company earned $1.12 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Weatherford International will post 6.74 EPS for the current fiscal year.

Insider Transactions at Weatherford International

In other news, EVP Scott C. Weatherholt sold 40,455 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $98.91, for a total transaction of $4,001,404.05. Following the sale, the executive vice president now directly owns 125,019 shares in the company, valued at $12,365,629.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Desmond J. Mills sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total value of $1,078,440.00. Following the sale, the chief accounting officer now directly owns 18,211 shares in the company, valued at $1,785,406.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott C. Weatherholt sold 40,455 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.91, for a total value of $4,001,404.05. Following the transaction, the executive vice president now owns 125,019 shares in the company, valued at $12,365,629.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,455 shares of company stock worth $13,628,764. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently modified their holdings of WFRD. Geneos Wealth Management Inc. acquired a new position in shares of Weatherford International during the first quarter worth approximately $25,000. Point72 Hong Kong Ltd purchased a new stake in Weatherford International in the 2nd quarter valued at $25,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Weatherford International in the 4th quarter valued at $27,000. Quarry LP purchased a new stake in Weatherford International in the 1st quarter valued at $28,000. Finally, Parallel Advisors LLC raised its position in Weatherford International by 189.0% in the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after buying an additional 189 shares during the last quarter. 97.23% of the stock is currently owned by 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.