Citigroup Boosts Weatherford International (NASDAQ:WFRD) Price Target to $134.00

Weatherford International (NASDAQ:WFRD) had its price target boosted by Citigroup from $115.00 to $134.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 23.05% from the stock’s previous close.

Other analysts have also issued reports about the company. Weiss Ratings lowered Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Piper Sandler boosted their price objective on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada assumed coverage on Weatherford International in a research note on Wednesday, March 18th. They set an “outperform” rating and a $105.00 price objective on the stock. The Goldman Sachs Group upped their target price on Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Finally, Barclays decreased their target price on Weatherford International from $114.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Weatherford International Stock Performance

Shares of NASDAQ:WFRD traded down $0.59 during midday trading on Monday, reaching $108.90. 248,339 shares of the company traded hands, compared to its average volume of 1,353,860. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83. Weatherford International has a 12 month low of $42.58 and a 12 month high of $112.31. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 1.30 and a beta of 0.87. The firm’s fifty day moving average price is $97.88 and its two-hundred day moving average price is $87.25.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.47. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $1.03 EPS. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts expect that Weatherford International will post 5.97 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Girish Saligram sold 100,000 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Weatherford International

Several institutional investors have recently bought and sold shares of the stock. American Trust purchased a new stake in Weatherford International during the 1st quarter valued at about $218,000. Sequoia Financial Advisors LLC boosted its holdings in Weatherford International by 14.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,530 shares of the company’s stock valued at $334,000 after acquiring an additional 454 shares during the period. Hsbc Holdings PLC purchased a new stake in Weatherford International during the 1st quarter valued at about $539,000. Summit Securities Group LLC purchased a new stake in Weatherford International during the 1st quarter valued at about $53,000. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Weatherford International by 2.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 14,707 shares of the company’s stock valued at $1,391,000 after acquiring an additional 335 shares during the period. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Company Profile

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.