Weatherford International (NASDAQ:WFRD) Stock Price Expected to Rise, Piper Sandler Analyst Says

Weatherford International (NASDAQ:WFRD) had its price target hoisted by stock analysts at Piper Sandler from $110.00 to $115.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 15.86% from the company’s previous close.

Several other equities research analysts also recently issued reports on WFRD. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a report on Wednesday, January 21st. Citigroup upped their price objective on Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 13th. The Goldman Sachs Group upped their price objective on Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. UBS Group upped their target price on Weatherford International from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. Finally, Zacks Research raised Weatherford International from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Weatherford International Trading Down 0.5%

Shares of WFRD opened at $99.26 on Wednesday. The stock’s 50-day moving average is $97.47 and its two-hundred day moving average is $84.19. The stock has a market cap of $7.12 billion, a PE ratio of 16.74, a P/E/G ratio of 1.23 and a beta of 0.83. Weatherford International has a 12 month low of $40.12 and a 12 month high of $110.57. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.19 and a quick ratio of 1.65.

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

Insider Transactions at Weatherford International

In other Weatherford International news, CEO Girish Saligram sold 100,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $105.50, for a total transaction of $10,550,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.09% of the company’s stock.

Institutional Trading of Weatherford International

A number of hedge funds have recently modified their holdings of the business. Diversified Trust Co lifted its holdings in shares of Weatherford International by 19.6% in the first quarter. Diversified Trust Co now owns 18,378 shares of the company’s stock valued at $1,738,000 after purchasing an additional 3,017 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Weatherford International by 3.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock valued at $385,000 after purchasing an additional 146 shares in the last quarter. Alberta Investment Management Corp lifted its holdings in shares of Weatherford International by 57.1% in the fourth quarter. Alberta Investment Management Corp now owns 77,300 shares of the company’s stock valued at $6,049,000 after purchasing an additional 28,100 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of Weatherford International by 4.7% in the fourth quarter. Vident Advisory LLC now owns 69,185 shares of the company’s stock valued at $5,414,000 after purchasing an additional 3,094 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Weatherford International by 17.2% in the fourth quarter. Mackenzie Financial Corp now owns 93,139 shares of the company’s stock valued at $7,356,000 after purchasing an additional 13,656 shares in the last quarter. 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.