Weatherford International PLC (NASDAQ:WFRD) Receives $94.70 Average PT from Brokerages

Shares of Weatherford International PLC (NASDAQ:WFRD) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $93.00.

Several research analysts have weighed in on WFRD shares. Barclays lowered their price objective on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating on the stock in a report on Friday. Zacks Research downgraded shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday. UBS Group started coverage on Weatherford International in a report on Tuesday, December 2nd. They set a “neutral” rating and a $82.00 price objective for the company. Finally, Piper Sandler increased their price objective on Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th.

Insiders Place Their Bets

In other Weatherford International news, EVP Kristin Ruzicka sold 2,129 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $77.25, for a total transaction of $164,465.25. Following the transaction, the executive vice president directly owned 15,673 shares in the company, valued at approximately $1,210,739.25. This trade represents a 11.96% decrease in their position. 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 Trading of Weatherford International

Institutional investors and hedge funds have recently made changes to their positions in the company. Quent Capital LLC purchased a new position in Weatherford International during the third quarter worth about $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Weatherford International during the 2nd quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted 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 worth $28,000 after buying an additional 253 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of 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 last quarter. Finally, American National Bank & Trust increased its position in shares of Weatherford International by 2,392.0% during the second quarter. American National Bank & Trust now owns 623 shares of the company’s stock valued at $31,000 after acquiring an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $89.93 on Tuesday. Weatherford International has a twelve month low of $36.74 and a twelve month high of $93.14. The stock’s 50 day moving average is $79.76 and its 200-day moving average is $68.91. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 16.29 and a beta of 0.79.

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.