Weatherford International plc (NASDAQ:WFRD) Given Average Recommendation of “Buy” by Brokerages

Shares of Weatherford International plc (NASDAQ:WFRD) have been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $110.00.

A number of equities analysts recently weighed in on WFRD shares. Piper Sandler boosted their price objective on shares of Weatherford International from $116.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. Raymond James upped their price target on Weatherford International from $110.00 to $127.00 and gave the company a “strong-buy” rating in a report on Thursday, October 26th. TheStreet downgraded Weatherford International from a “b-” rating to a “c” rating in a report on Tuesday, October 24th. Bank of America began coverage on shares of Weatherford International in a research note on Friday. They set a “buy” rating and a $120.00 target price on the stock. Finally, Evercore ISI lifted their price target on shares of Weatherford International from $106.00 to $127.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 13th.

Weatherford International Trading Up 0.6 %

NASDAQ WFRD opened at $95.36 on Friday. The stock’s fifty day moving average price is $93.29 and its 200-day moving average price is $78.48. The company has a current ratio of 1.86, a quick ratio of 1.41 and a debt-to-equity ratio of 2.44. The stock has a market cap of $6.88 billion, a P/E ratio of 20.12 and a beta of 0.91. Weatherford International has a 12 month low of $38.61 and a 12 month high of $100.93.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.15 by $0.51. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.28 billion. Weatherford International had a net margin of 7.01% and a return on equity of 55.83%. Weatherford International’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. As a group, equities analysts forecast that Weatherford International will post 5.27 EPS for the current fiscal year.

Institutional Trading of Weatherford International

Several large investors have recently added to or reduced their stakes in WFRD. BlackRock Inc. grew its holdings in Weatherford International by 4.2% during the second quarter. BlackRock Inc. now owns 4,928,501 shares of the company’s stock valued at $327,351,000 after purchasing an additional 197,337 shares during the period. Vanguard Group Inc. raised its stake in Weatherford International by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,987,394 shares of the company’s stock worth $128,753,000 after acquiring an additional 107,069 shares during the period. Boston Partners lifted its holdings in Weatherford International by 449.1% during the second quarter. Boston Partners now owns 2,226,804 shares of the company’s stock valued at $148,895,000 after purchasing an additional 1,821,266 shares in the last quarter. State Street Corp boosted its position in shares of Weatherford International by 6.6% in the first quarter. State Street Corp now owns 1,792,295 shares of the company’s stock worth $106,373,000 after purchasing an additional 111,712 shares during the period. Finally, Capital World Investors increased its stake in shares of Weatherford International by 15.6% in the second quarter. Capital World Investors now owns 1,770,631 shares of the company’s stock worth $117,605,000 after purchasing an additional 238,506 shares in the last quarter. 90.66% of the stock is currently 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.