Weatherford International (NASDAQ:WFRD) Price Target Increased to $145.00 by Analysts at Bank of America

Weatherford International (NASDAQ:WFRD) had its price target lifted by analysts at Bank of America from $135.00 to $145.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 13.31% from the company’s previous close.

WFRD has been the topic of several other research reports. Barclays lifted their price target on Weatherford International from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James raised their price objective on Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 16th. Piper Sandler raised their price objective on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI raised their price objective on Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a report on Thursday. Finally, TheStreet raised Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. 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, the company presently has a consensus rating of “Buy” and a consensus target price of $145.00.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $127.97 on Monday. The business’s 50 day moving average is $113.86 and its 200-day moving average is $100.84. Weatherford International has a 1-year low of $55.81 and a 1-year high of $129.70. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The firm has a market cap of $9.36 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 0.99 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data 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 analyst estimates of $1.33 billion. During the same quarter last year, the company earned $0.97 EPS. The company’s revenue was up 14.5% on a year-over-year basis. Equities research analysts predict that Weatherford International will post 6.93 earnings per share for the current year.

Insider Activity

In other news, CAO Desmond J. Mills sold 11,000 shares of the business’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 transaction, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $4,001,404.05. Following the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $12,365,629.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $98.04, for a total value of $1,078,440.00. Following the completion of the sale, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The disclosure for this sale can be found here. Insiders have sold 145,455 shares of company stock valued at $14,863,464 in the last ninety days. 2.20% of the stock is owned by company insiders.

Institutional Trading of Weatherford International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WFRD. McGlone Suttner Wealth Management Inc. bought a new stake in Weatherford International in the 4th quarter valued at about $27,000. Parallel Advisors LLC increased 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 in the last quarter. Quadrant Capital Group LLC increased its position in Weatherford International by 539.1% in the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after buying an additional 248 shares in the last quarter. Huntington National Bank bought a new stake in Weatherford International during the 3rd quarter worth approximately $30,000. Finally, CWM LLC increased its holdings in Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. 97.23% of the stock is 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.