Weatherford International (NASDAQ:WFRD) PT Raised to $151.00 at Evercore ISI

Weatherford International (NASDAQ:WFRD) had its price target raised by Evercore ISI from $130.00 to $151.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 21.99% from the company’s previous close.

Several other brokerages have also weighed in on WFRD. Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a report on Wednesday. Piper Sandler increased their price objective on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Barclays started coverage on shares of Weatherford International in a report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price objective on the stock. Raymond James increased their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. Finally, TheStreet upgraded shares of Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $134.11.

Weatherford International Price Performance

NASDAQ WFRD traded down $1.23 during trading hours on Thursday, reaching $123.78. The company’s stock had a trading volume of 101,700 shares, compared to its average volume of 819,167. The stock has a market cap of $8.95 billion, a PE ratio of 20.00, a PEG ratio of 0.94 and a beta of 0.73. Weatherford International has a fifty-two week low of $55.81 and a fifty-two week high of $127.45. The company’s 50-day moving average is $112.90 and its two-hundred day moving average is $100.33. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Weatherford International had a net margin of 8.61% and a return on equity of 58.17%. 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 prior year, the company earned $0.97 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. Analysts forecast that Weatherford International will post 6.73 EPS for the current year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of the stock in a transaction that occurred on 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 owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Desmond J. Mills sold 11,000 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $12,365,629.29. The disclosure for this sale can be found here. Insiders sold 135,455 shares of company stock valued at $13,628,764 over the last 90 days. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Weatherford International

Institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust lifted its holdings in Weatherford International by 23.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 560 shares of the company’s stock valued at $51,000 after acquiring an additional 107 shares during the last quarter. Xponance Inc. boosted its position in shares of Weatherford International by 1.1% in the fourth quarter. Xponance Inc. now owns 10,532 shares of the company’s stock valued at $1,030,000 after acquiring an additional 116 shares during the period. Oliver Luxxe Assets LLC raised its stake in shares of Weatherford International by 1.1% in the first quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock valued at $1,307,000 after purchasing an additional 125 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Weatherford International by 3.2% in the fourth quarter. Mackenzie Financial Corp now owns 4,497 shares of the company’s stock valued at $440,000 after purchasing an additional 140 shares in the last quarter. Finally, CWM LLC raised its stake in Weatherford International by 145.7% during the fourth quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

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.