Weatherford International (NASDAQ:WFRD) Given New $122.00 Price Target at Raymond James Financial

Weatherford International (NASDAQ:WFRD) had its target price reduced by equities research analysts at Raymond James Financial from $125.00 to $122.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s price target indicates a potential upside of 45.86% from the stock’s current price.

Several other analysts also recently commented on the stock. Piper Sandler raised their target price on shares of Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Royal Bank Of Canada started coverage on shares of Weatherford International in a research report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 price objective for the company. Wall Street Zen lowered shares of Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings raised shares of Weatherford International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Finally, Zacks Research raised shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Weatherford International Trading Up 1.0%

NASDAQ:WFRD traded up $0.86 on Friday, reaching $83.64. The company’s stock had a trading volume of 303,731 shares, compared to its average volume of 1,316,700. Weatherford International has a 1-year low of $52.33 and a 1-year high of $113.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. The firm has a market cap of $6.02 billion, a PE ratio of 13.08, a PEG ratio of 0.75 and a beta of 0.86. The business’s 50-day moving average price is $98.51 and its two-hundred day moving average price is $95.64.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $1.03 earnings per share. Weatherford International’s revenue was down 3.4% compared to the same quarter last year. Equities research analysts anticipate that Weatherford International will post 6.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Holocene Advisors LP raised its position in Weatherford International by 712.8% during the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock worth $82,812,000 after acquiring an additional 1,443,512 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Weatherford International by 1,040.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,244,464 shares of the company’s stock valued at $97,392,000 after acquiring an additional 1,135,338 shares during the last quarter. Norges Bank bought a new position in shares of Weatherford International in the 4th quarter valued at about $61,399,000. Barclays PLC increased its stake in shares of Weatherford International by 1,096.6% during the 4th quarter. Barclays PLC now owns 855,752 shares of the company’s stock worth $66,971,000 after purchasing an additional 784,237 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Weatherford International by 154.3% in the 3rd quarter. Millennium Management LLC now owns 1,159,192 shares of the company’s stock valued at $79,324,000 after purchasing an additional 703,401 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Company Profile

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.