Weatherford International (NASDAQ:WFRD) Stock Price Expected to Rise, UBS Group Analyst Says

Weatherford International (NASDAQ:WFRD) had its price target hoisted by equities researchers at UBS Group from $105.00 to $113.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 9.78% from the stock’s previous close.

WFRD has been the topic of several other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, January 21st. Piper Sandler lifted their target price on shares of Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup lifted their target price on shares of Weatherford International from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Zacks Research downgraded shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.22.

Weatherford International Price Performance

Shares of WFRD stock traded up $1.94 during trading hours on Thursday, hitting $102.93. 2,152,935 shares of the company’s stock were exchanged, compared to its average volume of 1,359,864. The company has a market capitalization of $7.38 billion, a PE ratio of 16.11, a PEG ratio of 1.25 and a beta of 0.83. Weatherford International has a 12-month low of $40.12 and a 12-month high of $110.57. The business’s 50 day simple moving average is $97.23 and its 200-day simple moving average is $85.23. The company has a current ratio of 2.19, a quick ratio of 1.65 and a debt-to-equity ratio of 0.86.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.02 by $0.47. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 29.05%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. On average, equities research analysts anticipate that Weatherford International will post 5.64 earnings per share for the current year.

Insider Transactions at Weatherford International

In other Weatherford International news, CEO Girish Saligram sold 100,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $105.50, for a total transaction of $10,550,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares during the period. Quent Capital LLC purchased a new position in Weatherford International during the 3rd quarter valued at $26,000. Los Angeles Capital Management LLC purchased a new position in Weatherford International during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC increased its position in Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after purchasing an additional 253 shares during the period. Finally, Sound Income Strategies LLC purchased a new position in Weatherford International during the 3rd quarter valued at $35,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

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.