Weatherford International (NASDAQ:WFRD) Price Target Raised to $152.00 at Raymond James

Weatherford International (NASDAQ:WFRD) had its target price raised by Raymond James from $134.00 to $152.00 in a research report report published on Tuesday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Several other brokerages have also recently weighed in on WFRD. Barclays initiated coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They set an overweight rating and a $135.00 price target for the company. Bank of America raised their price target on shares of Weatherford International from $123.00 to $135.00 and gave the stock a buy rating in a research note on Monday. TheStreet raised shares of Weatherford International from a c rating to a b rating in a research note on Monday, March 11th. Benchmark raised their price target on shares of Weatherford International from $115.00 to $155.00 and gave the stock a buy rating in a research note on Monday, April 1st. Finally, Piper Sandler raised their target price on shares of Weatherford International from $138.00 to $180.00 and gave the company an overweight rating in a research note on Monday, April 8th. 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, the company presently has a consensus rating of Buy and an average target price of $131.00.

Weatherford International Stock Performance

Shares of WFRD stock opened at $113.71 on Tuesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79. The company has a market capitalization of $8.22 billion, a P/E ratio of 20.13 and a beta of 0.73. The company’s 50 day moving average price is $110.68 and its two-hundred day moving average price is $99.25. Weatherford International has a 52 week low of $55.81 and a 52 week high of $127.45.

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

Insiders Place Their Bets

In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $98.91, for a total transaction of $4,001,404.05. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $98.91, for a total transaction of $4,001,404.05. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction 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 transaction, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at $15,213,915.15. The disclosure for this sale can be found here. Insiders sold a total of 135,455 shares of company stock valued at $13,628,764 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds and other institutional investors have recently modified their holdings of WFRD. Price T Rowe Associates Inc. MD lifted its holdings in shares of Weatherford International by 309.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,226,900 shares of the company’s stock worth $609,179,000 after buying an additional 4,706,078 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Weatherford International during the third quarter worth $114,430,000. State Street Corp lifted its holdings in shares of Weatherford International by 317.1% during the second quarter. State Street Corp now owns 1,571,745 shares of the company’s stock worth $33,274,000 after buying an additional 1,194,930 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Weatherford International by 465.6% during the fourth quarter. Millennium Management LLC now owns 1,143,602 shares of the company’s stock worth $58,232,000 after buying an additional 941,426 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Weatherford International during the fourth quarter worth $89,762,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

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.