Weatherford International (NASDAQ:WFRD) PT Raised to $152.00

Weatherford International (NASDAQ:WFRD) had its price objective raised by investment analysts at Raymond James from $134.00 to $152.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ target price would indicate a potential upside of 33.05% from the stock’s current price.

Several other research analysts also recently commented on WFRD. TheStreet raised Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Barclays started coverage on Weatherford International in a report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price target for the company. Bank of America raised their price objective on Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Monday. Benchmark raised their price objective on Weatherford International from $115.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Piper Sandler raised their price objective on Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Weatherford International has a consensus rating of “Buy” and an average target price of $131.00.

Weatherford International Stock Down 1.1 %

Shares of NASDAQ WFRD traded down $1.32 during trading on Tuesday, reaching $114.24. The company had a trading volume of 263,760 shares, compared to its average volume of 814,343. The stock has a market cap of $8.26 billion, a PE ratio of 20.16 and a beta of 0.73. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. Weatherford International has a 12-month low of $55.81 and a 12-month high of $127.45. The business’s 50-day moving average is $110.16 and its 200 day moving average is $99.09.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.48. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 earnings per share. As a group, equities analysts forecast that Weatherford International will post 6.74 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction on 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 in the company, valued at approximately $12,365,629.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Girish Saligram sold 60,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the transaction, the chief executive officer now directly owns 146,895 shares in the company, valued at approximately $15,213,915.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Scott C. Weatherholt sold 40,455 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $98.91, for a total value of $4,001,404.05. Following the sale, the executive vice president now owns 125,019 shares in the company, valued at approximately $12,365,629.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,455 shares of company stock worth $13,628,764. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Weatherford International

Institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank acquired a new position in shares of Weatherford International in the 3rd quarter valued at about $30,000. New York State Teachers Retirement System raised its holdings in Weatherford International by 14.9% in the 4th quarter. New York State Teachers Retirement System now owns 74,676 shares of the company’s stock worth $7,306,000 after purchasing an additional 9,705 shares during the period. SG Americas Securities LLC raised its holdings in Weatherford International by 287.1% in the 4th quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock worth $2,418,000 after purchasing an additional 18,330 shares during the period. Principal Financial Group Inc. raised its holdings in Weatherford International by 1,564.7% in the 3rd quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock worth $25,398,000 after purchasing an additional 264,284 shares during the period. Finally, First Hawaiian Bank acquired a new position in Weatherford International in the 3rd quarter worth about $738,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

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.