Weatherford International (NASDAQ:WFRD) Sets New 1-Year High – Time to Buy?

Weatherford International PLC (NASDAQ:WFRD)’s stock price hit a new 52-week high on Friday . The company traded as high as $91.75 and last traded at $92.0750, with a volume of 84965 shares traded. The stock had previously closed at $89.12.

Analyst Upgrades and Downgrades

Several research firms recently commented on WFRD. Piper Sandler raised their price objective on shares of Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. BMO Capital Markets started coverage on Weatherford International in a research report on Friday, October 10th. They set an “outperform” rating and a $82.00 target price on the stock. Zacks Research lowered Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 14th. The Goldman Sachs Group boosted their price objective on Weatherford International from $66.00 to $73.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Finally, UBS Group began coverage on Weatherford International in a report on Tuesday, December 2nd. They set a “neutral” rating and a $82.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.00.

Weatherford International Price Performance

The firm has a market capitalization of $6.45 billion, a PE ratio of 16.29 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55. The business’s 50 day moving average is $79.76 and its two-hundred day moving average is $68.91.

Insider Buying and Selling at Weatherford International

In related news, EVP Kristin Ruzicka sold 2,129 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $77.25, for a total value of $164,465.25. Following the completion of the transaction, the executive vice president directly owned 15,673 shares in the company, valued at approximately $1,210,739.25. The trade was a 11.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in shares of Weatherford International by 3.7% during the third quarter. PNC Financial Services Group Inc. now owns 4,662 shares of the company’s stock valued at $319,000 after acquiring an additional 167 shares during the last quarter. IFP Advisors Inc increased its holdings in Weatherford International by 14.2% during the 2nd quarter. IFP Advisors Inc now owns 1,500 shares of the company’s stock valued at $75,000 after purchasing an additional 187 shares during the period. Arizona State Retirement System increased its holdings in Weatherford International by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 21,431 shares of the company’s stock valued at $1,467,000 after purchasing an additional 190 shares during the period. Treasurer of the State of North Carolina raised its position in Weatherford International by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 33,245 shares of the company’s stock valued at $1,673,000 after purchasing an additional 225 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Weatherford International by 69.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock worth $29,000 after buying an additional 240 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

About Weatherford International

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.