Weatherford International (NASDAQ:WFRD) Price Target Raised to $118.00 at Piper Sandler

Weatherford International (NASDAQ:WFRD) had its price target boosted by research analysts at Piper Sandler from $115.00 to $118.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 11.58% from the company’s current price.

Several other research analysts have also recently weighed in on the company. UBS Group boosted their price target on Weatherford International from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 31st. Zacks Research cut Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Royal Bank Of Canada began coverage on Weatherford International in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 price target for the company. The Goldman Sachs Group boosted their price target on Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.33.

Weatherford International Stock Up 4.7%

NASDAQ:WFRD traded up $4.77 during trading hours on Thursday, reaching $105.76. 409,759 shares of the company traded hands, compared to its average volume of 1,342,546. The business’s 50-day moving average price is $97.23 and its two-hundred day moving average price is $85.23. The stock has a market capitalization of $7.58 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.25 and a beta of 0.83. Weatherford International has a 1 year low of $40.12 and a 1 year high of $110.57. 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 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.47. Weatherford International had a return on equity of 29.05% and a net margin of 9.49%.The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The company’s revenue was down 3.4% on a year-over-year basis. Analysts predict that Weatherford International will post 5.64 earnings per share for the current year.

Insider Activity at Weatherford International

In related news, CEO Girish Saligram sold 100,000 shares of Weatherford International stock in a transaction on Friday, February 6th. The stock was sold at an average price of $105.50, for a total value of $10,550,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.09% of the stock is owned by insiders.

Institutional Trading of Weatherford International

Large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after acquiring an additional 178 shares during the period. Quent Capital LLC bought a new stake in shares of Weatherford International in the third quarter worth $26,000. Los Angeles Capital Management LLC bought a new stake in shares of Weatherford International in the fourth quarter worth $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after acquiring an additional 253 shares during the period. Finally, Sound Income Strategies LLC bought a new stake in shares of Weatherford International in the third quarter worth $35,000. Institutional investors own 97.23% of the company’s stock.

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.