Benchmark Reaffirms “Buy” Rating for Weatherford International (NASDAQ:WFRD)

Benchmark reaffirmed their buy rating on shares of Weatherford International (NASDAQ:WFRD) in a research report report published on Wednesday, Benzinga reports. Benchmark currently has a $155.00 price objective on the stock.

WFRD has been the subject of several other reports. Bank of America lifted their price objective on Weatherford International from $123.00 to $135.00 and gave the stock a buy rating in a research report on Monday, April 15th. TheStreet raised Weatherford International from a c rating to a b rating in a research report on Monday, March 11th. Barclays started coverage on Weatherford International in a research report on Wednesday, February 28th. They issued an overweight rating and a $135.00 price objective for the company. Piper Sandler raised their target price on Weatherford International from $138.00 to $180.00 and gave the company an overweight rating in a research note on Monday, April 8th. Finally, Raymond James raised their target price on Weatherford International from $134.00 to $152.00 and gave the company a strong-buy rating in a research note on Tuesday, April 16th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $131.00.

Weatherford International Stock Up 5.9 %

Shares of NASDAQ:WFRD opened at $125.01 on Wednesday. The firm has a market cap of $9.04 billion, a P/E ratio of 20.23, a P/E/G ratio of 0.94 and a beta of 0.73. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. Weatherford International has a 12-month low of $55.81 and a 12-month high of $127.45. The business has a fifty day simple moving average of $112.90 and a 200 day simple moving average of $100.33.

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, topping the consensus estimate of $1.41 by $0.09. Weatherford International had a return on equity of 58.17% and a net margin of 8.61%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company posted $0.97 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts predict that Weatherford International will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of Weatherford International 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 transaction, the chief executive officer now owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Benjamin Duster sold 12,000 shares of Weatherford International stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $96.98, for a total value of $1,163,760.00. Following the sale, the director now owns 12,801 shares of the company’s stock, valued at approximately $1,241,440.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 directly owns 146,895 shares in the company, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,455 shares of company stock worth $13,628,764. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

Hedge funds have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Weatherford International in the 4th quarter worth approximately $27,000. Parallel Advisors LLC raised its holdings in shares of Weatherford International by 189.0% in the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares during the period. Rise Advisors LLC bought a new stake in Weatherford International during the 1st quarter valued at $34,000. Quadrant Capital Group LLC raised its holdings in Weatherford International by 539.1% during the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after acquiring an additional 248 shares during the period. Finally, CWM LLC raised its holdings in Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company’s stock valued at $31,000 after acquiring an additional 185 shares during the period. Institutional investors own 97.23% of the company’s stock.

About Weatherford International

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.