Piper Sandler Raises Weatherford International (NASDAQ:WFRD) Price Target to $95.00

Weatherford International (NASDAQ:WFRD) had its price objective raised by equities research analysts at Piper Sandler from $80.00 to $95.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 22.74% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Barclays boosted their price target on shares of Weatherford International from $81.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, October 8th. Citigroup lifted their price objective on shares of Weatherford International from $77.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, UBS Group assumed coverage on Weatherford International in a research note on Tuesday, December 2nd. They issued a “neutral” rating and a $82.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.70.

Weatherford International Price Performance

WFRD opened at $77.40 on Thursday. The firm has a 50-day moving average price of $72.26 and a 200-day moving average price of $62.74. Weatherford International has a twelve month low of $36.74 and a twelve month high of $82.26. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 14.02 and a beta of 0.79.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). Weatherford International had a return on equity of 28.28% and a net margin of 8.15%.The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company posted $2.06 EPS. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. Equities analysts expect that Weatherford International will post 5.89 EPS for the current year.

Insider Transactions at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $77.25, for a total value of $164,465.25. Following the completion of the transaction, the executive vice president owned 15,673 shares of the company’s stock, valued at approximately $1,210,739.25. This represents a 11.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.09% of the stock is currently owned by insiders.

Institutional Trading of Weatherford International

A number of hedge funds have recently made changes to their positions in WFRD. Quent Capital LLC bought a new position in shares of Weatherford International in the third quarter worth approximately $26,000. Sound Income Strategies LLC purchased a new position in Weatherford International in the 3rd quarter worth approximately $35,000. Elevation Point Wealth Partners LLC bought a new position in Weatherford International in the 2nd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its stake 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 last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Weatherford International by 69.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock worth $29,000 after purchasing an additional 240 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

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.