Weatherford International (NASDAQ:WFRD) Price Target Raised to $135.00 at Bank of America

Weatherford International (NASDAQ:WFRD) had its price target hoisted by Bank of America from $123.00 to $135.00 in a research report released on Monday, Benzinga reports. Bank of America currently has a buy rating on the stock.

WFRD has been the subject of a number of other research reports. Benchmark lifted their price target on Weatherford International from $115.00 to $155.00 and gave the stock a buy rating in a research report on Monday, April 1st. Piper Sandler lifted their price target on Weatherford International from $138.00 to $180.00 and gave the stock an overweight rating in a research report on Monday, April 8th. TheStreet raised Weatherford International from a c rating to a b rating in a research report on Monday, March 11th. Finally, Barclays started coverage on Weatherford International in a research report on Wednesday, February 28th. They set an overweight rating and a $135.00 price target for the company. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Weatherford International has an average rating of Buy and a consensus target price of $128.22.

Weatherford International Trading Down 1.8 %

WFRD opened at $115.56 on Monday. Weatherford International has a 52 week low of $55.81 and a 52 week high of $127.45. The stock’s fifty day moving average is $110.16 and its two-hundred day moving average is $99.09. The company has a market capitalization of $8.36 billion, a P/E ratio of 20.45 and a beta of 0.73. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.48. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. Analysts forecast that Weatherford International will post 6.74 earnings per share for the current year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of the business’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 completion of the sale, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $12,365,629.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares in the company, valued at approximately $15,213,915.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Scott C. Weatherholt sold 40,455 shares of the business’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 value of $4,001,404.05. Following the transaction, the executive vice president now owns 125,019 shares in the company, valued at $12,365,629.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,455 shares of company stock worth $13,628,764. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank acquired a new position in shares of Weatherford International during the 3rd quarter worth approximately $30,000. New York State Teachers Retirement System boosted its holdings in shares of Weatherford International by 14.9% during the 4th quarter. New York State Teachers Retirement System now owns 74,676 shares of the company’s stock worth $7,306,000 after purchasing an additional 9,705 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Weatherford International by 287.1% during the 4th quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock worth $2,418,000 after purchasing an additional 18,330 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Weatherford International by 1,564.7% during the 3rd quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock worth $25,398,000 after purchasing an additional 264,284 shares during the last quarter. Finally, First Hawaiian Bank acquired a new position in Weatherford International in the third quarter valued at approximately $738,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

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.