UBS Group Boosts Weatherford International (NASDAQ:WFRD) Price Target to $94.00

Weatherford International (NASDAQ:WFRD) had its target price increased by UBS Group from $82.00 to $94.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential downside of 10.91% from the company’s previous close.

A number of other research firms also recently commented on WFRD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a report on Wednesday, January 21st. The Goldman Sachs Group lifted their price objective on shares of Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Zacks Research lowered shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 14th. Piper Sandler increased their target price 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. Finally, BMO Capital Markets started coverage on shares of Weatherford International in a report on Friday, October 10th. They issued an “outperform” rating and a $82.00 price target for the company. Six equities 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, Weatherford International presently has an average rating of “Moderate Buy” and a consensus price target of $90.50.

Weatherford International Stock Performance

Shares of WFRD opened at $105.51 on Thursday. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 17.79 and a beta of 0.79. The company has a quick ratio of 1.55, a current ratio of 2.19 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $84.45 and its two-hundred day moving average is $71.65. Weatherford International has a 52-week low of $36.74 and a 52-week high of $106.41.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.42 by $0.49. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Weatherford International had a net margin of 8.76% and a return on equity of 28.07%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.50 earnings per share. Analysts forecast that Weatherford International will post 5.89 EPS for the current fiscal year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP Kristin Ruzicka sold 2,129 shares of the firm’s stock in a transaction dated 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 $1,210,739.25. This trade represents a 11.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Weatherford International

Large investors have recently made changes to their positions in the business. Quent Capital LLC bought a new stake in shares of Weatherford International in the 3rd quarter valued at approximately $26,000. Leonteq Securities AG bought a new stake in Weatherford International in the fourth quarter worth approximately $39,000. Sound Income Strategies LLC acquired a new position in shares of Weatherford International during the 3rd quarter worth $35,000. Elevation Point Wealth Partners LLC bought a new position in shares of Weatherford International during the 2nd quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Weatherford International by 83.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds 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.