Weatherford International (NASDAQ:WFRD) PT Raised to $184.00

Weatherford International (NASDAQ:WFRD) had its target price lifted by equities research analysts at Piper Sandler from $180.00 to $184.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 43.78% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI increased their price target on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research report on Thursday. Raymond James increased their price target on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 16th. Barclays started coverage on shares of Weatherford International in a research report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price target on the stock. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Finally, Bank of America increased their price target on shares of Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Weatherford International currently has an average rating of “Buy” and an average price target of $136.89.

Weatherford International Stock Performance

NASDAQ:WFRD opened at $127.97 on Thursday. 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 firm has a 50-day moving average of $113.86 and a two-hundred day moving average of $100.75. The stock has a market cap of $9.25 billion, a P/E ratio of 20.71, a PEG ratio of 0.99 and a beta of 0.73. Weatherford International has a 1-year low of $55.81 and a 1-year high of $129.70.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company posted $0.97 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, research analysts expect that Weatherford International will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Girish Saligram sold 60,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the sale, the chief executive officer now owns 146,895 shares in the company, valued at $15,213,915.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total value of $1,078,440.00. Following the sale, the chief accounting officer now owns 18,211 shares in the company, valued at $1,785,406.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $6,214,200.00. Following the completion of the sale, 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. Insiders have sold a total of 145,455 shares of company stock worth $14,863,464 over the last quarter. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Weatherford International

Large investors have recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Weatherford International in the fourth quarter valued at approximately $27,000. Parallel Advisors LLC increased its stake 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 during the period. Quadrant Capital Group LLC increased its stake 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 during the period. Huntington National Bank acquired a new stake in shares of Weatherford International in the third quarter valued at approximately $30,000. Finally, CWM LLC increased its stake 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 during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Company Profile

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.