Weatherford International (NASDAQ:WFRD) Price Target Raised to $95.00

Weatherford International (NASDAQ:WFRD) had its target price hoisted by Piper Sandler from $80.00 to $95.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. The Goldman Sachs Group boosted their price objective on shares of Weatherford International from $66.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. BMO Capital Markets initiated coverage on shares of Weatherford International in a research note on Friday, October 10th. They issued an “outperform” rating and a $82.00 price target on the stock. Melius initiated coverage on Weatherford International in a research report on Wednesday, August 20th. They set a “buy” rating and a $108.00 price objective for the company. Zacks Research raised Weatherford International from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, UBS Group initiated coverage on Weatherford International in a research note on Tuesday, December 2nd. They set a “neutral” rating and a $82.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.70.

Weatherford International Stock Up 2.4%

Shares of NASDAQ:WFRD opened at $78.83 on Thursday. The business’s 50-day moving average is $72.86 and its 200-day moving average is $63.20. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 14.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55. Weatherford International has a 1 year low of $36.74 and a 1 year high of $82.26.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.03). The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. Weatherford International had a return on equity of 28.28% and a net margin of 8.15%.The business’s revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.06 EPS. Equities research analysts predict that Weatherford International will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date was Thursday, November 6th. Weatherford International’s dividend payout ratio is currently 18.12%.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP Kristin Ruzicka sold 2,129 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $77.25, for a total value of $164,465.25. Following the transaction, the executive vice president directly owned 15,673 shares of the company’s stock, valued at $1,210,739.25. This trade represents a 11.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Research Global Investors grew its stake in Weatherford International by 1.8% in the 3rd quarter. Capital Research Global Investors now owns 5,673,603 shares of the company’s stock valued at $388,245,000 after acquiring an additional 98,663 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of Weatherford International by 712.8% during the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after acquiring an additional 1,443,512 shares during the last quarter. First Trust Advisors LP increased its position in Weatherford International by 43.5% during the 3rd quarter. First Trust Advisors LP now owns 1,572,422 shares of the company’s stock worth $107,601,000 after purchasing an additional 476,575 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Weatherford International by 4.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,301,573 shares of the company’s stock valued at $89,068,000 after buying an additional 57,008 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Weatherford International by 103.1% during the third quarter. American Century Companies Inc. now owns 1,165,753 shares of the company’s stock valued at $79,772,000 after buying an additional 591,694 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Company Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.