Weatherford International (NASDAQ:WFRD) PT Raised to $151.00 at Evercore ISI

Weatherford International (NASDAQ:WFRD) had its price target raised by analysts at Evercore ISI from $130.00 to $151.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price target suggests a potential upside of 18.00% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Bank of America raised their price objective on Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Benchmark restated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research report on Wednesday. Raymond James raised their target price on Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 16th. Barclays assumed coverage on Weatherford International in a research note on Wednesday, February 28th. They set an “overweight” rating and a $135.00 target price for the company. Finally, Piper Sandler raised their target price on Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Weatherford International currently has a consensus rating of “Buy” and an average price target of $136.89.

Weatherford International Price Performance

Shares of WFRD opened at $127.97 on Thursday. Weatherford International has a 1 year low of $55.81 and a 1 year high of $129.70. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.72 and a quick ratio of 1.37. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 0.99 and a beta of 0.73. The business has a 50-day moving average of $113.86 and a 200-day moving average of $100.75.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the company earned $0.97 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Weatherford International will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, Director Charles M. Sledge sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $123.47, for a total value of $1,234,700.00. Following the completion of the sale, the director now owns 32,729 shares of the company’s stock, valued at $4,041,049.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Weatherford International news, Director Charles M. Sledge sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $123.47, for a total value of $1,234,700.00. Following the completion of the sale, the director now owns 32,729 shares of the company’s stock, valued at $4,041,049.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the transaction, the chief executive officer now owns 146,895 shares in the company, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,455 shares of company stock valued at $14,863,464. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WFRD. McGlone Suttner Wealth Management Inc. bought a new position in shares of Weatherford International in the fourth quarter valued at approximately $27,000. Parallel Advisors LLC lifted its holdings in shares of Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after purchasing an additional 189 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Weatherford International by 539.1% in the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after purchasing an additional 248 shares in the last quarter. Huntington National Bank bought a new position in shares of Weatherford International in the third quarter valued at approximately $30,000. Finally, CWM LLC lifted its holdings in shares of Weatherford International by 145.7% in the fourth quarter. CWM LLC now owns 312 shares of the company’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Institutional investors 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.