Benchmark Reiterates Buy Rating for Weatherford International (NASDAQ:WFRD)

Benchmark reaffirmed their buy rating on shares of Weatherford International (NASDAQ:WFRD) in a research report sent to investors on Wednesday morning, Benzinga reports. Benchmark currently has a $155.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. Barclays started coverage on Weatherford International in a research report on Wednesday, February 28th. They set an overweight rating and a $135.00 price target on the stock. Raymond James increased their price target on Weatherford International from $134.00 to $152.00 and gave the stock a strong-buy rating in a research report on Tuesday, April 16th. Piper Sandler increased their price target on Weatherford International from $138.00 to $180.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Bank of America increased their price target on Weatherford International from $123.00 to $135.00 and gave the stock a buy rating in a research report on Monday, April 15th. Finally, TheStreet raised Weatherford International from a c rating to a b rating in a research report on Monday, March 11th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Weatherford International currently has an average rating of Buy and an average price target of $136.89.

Weatherford International Stock Performance

WFRD stock opened at $127.97 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 2.72 and a debt-to-equity ratio of 1.48. The business’s fifty day simple moving average is $113.86 and its two-hundred day simple moving average is $100.75. Weatherford International has a twelve month low of $55.81 and a twelve month high of $129.70. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.99 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. Analysts predict that Weatherford International will post 6.73 earnings per share for the current year.

Insiders Place Their Bets

In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Desmond J. Mills sold 11,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 SEC, which is available at the SEC website. Also, Director Benjamin Duster sold 12,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the transaction, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,455 shares of company stock valued at $14,863,464. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WFRD. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Weatherford International in the fourth quarter worth about $27,000. Parallel Advisors LLC raised its stake in shares of Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Weatherford International by 539.1% in the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after purchasing an additional 248 shares during the last quarter. Huntington National Bank purchased a new position in Weatherford International during the third quarter valued at approximately $30,000. Finally, CWM LLC raised its position in Weatherford International by 145.7% during the fourth quarter. CWM LLC now owns 312 shares of the company’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. 97.23% of the stock is currently owned by hedge funds and other 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.