Weatherford International (NASDAQ:WFRD) Price Target Increased to $160.00 by Analysts at Barclays

Weatherford International (NASDAQ:WFRD) had its price objective lifted by Barclays from $135.00 to $160.00 in a research note published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

WFRD has been the topic of several other reports. Piper Sandler increased their price objective on shares of Weatherford International from $180.00 to $184.00 and gave the company an overweight rating in a research report on Thursday. Benchmark reiterated a buy rating and set a $155.00 price target on shares of Weatherford International in a report on Wednesday. TheStreet upgraded shares of Weatherford International from a c rating to a b rating in a report on Monday, March 11th. Raymond James lifted their target price on Weatherford International from $134.00 to $152.00 and gave the stock a strong-buy rating in a report on Tuesday, April 16th. Finally, Bank of America upped their price target on Weatherford International from $123.00 to $135.00 and gave the company a buy rating in a report on Monday, April 15th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Weatherford International has a consensus rating of Buy and a consensus target price of $136.89.

Weatherford International Stock Up 3.5 %

Shares of Weatherford International stock opened at $127.97 on Friday. Weatherford International has a 1 year low of $55.81 and a 1 year high of $129.70. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.98 and a beta of 0.73. The company has a 50-day moving average of $113.86 and a 200 day moving average of $100.75. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.84 and a quick ratio of 1.37.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS 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 firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the firm posted $0.97 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Weatherford International will post 6.73 earnings per share for the current fiscal year.

Insider Activity at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of Weatherford International stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the transaction, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 125,019 shares in the company, valued at approximately $12,365,629.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Desmond J. Mills sold 11,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the transaction, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,455 shares of company stock worth $14,863,464. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Weatherford International by 1.6% during the third quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company’s stock valued at $703,254,000 after buying an additional 120,401 shares during the period. Boston Partners boosted its stake in shares of Weatherford International by 3.5% during the fourth quarter. Boston Partners now owns 2,282,581 shares of the company’s stock valued at $223,127,000 after purchasing an additional 76,872 shares during the period. Bank of New York Mellon Corp increased its stake in Weatherford International by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,646,650 shares of the company’s stock worth $148,742,000 after buying an additional 76,058 shares during the period. American Century Companies Inc. raised its stake in shares of Weatherford International by 5.2% during the third quarter. American Century Companies Inc. now owns 1,340,602 shares of the company’s stock valued at $121,097,000 after acquiring an additional 65,935 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Weatherford International by 17.6% during the 4th quarter. Jennison Associates LLC now owns 1,284,626 shares of the company’s stock valued at $125,675,000 after purchasing an additional 191,855 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

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.