Weatherford International (NASDAQ:WFRD) Given New $110.00 Price Target at Piper Sandler

Weatherford International (NASDAQ:WFRD) had its price objective lowered by equities researchers at Piper Sandler from $118.00 to $110.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 43.81% from the stock’s current price.

A number of other research firms have also commented on WFRD. The Goldman Sachs Group dropped their price objective on shares of Weatherford International from $106.00 to $94.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 14th. Raymond James Financial decreased their target price on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Wall Street Zen lowered Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Zacks Research lowered Weatherford International from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Finally, Barclays dropped their price target on Weatherford International from $151.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Weatherford International currently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Weatherford International Stock Performance

Shares of Weatherford International stock traded up $0.30 during trading on Monday, reaching $76.49. The company’s stock had a trading volume of 79,170 shares, compared to its average volume of 1,222,300. The company has a 50-day moving average price of $86.62 and a two-hundred day moving average price of $92.61. Weatherford International has a fifty-two week low of $62.84 and a fifty-two week high of $113.15. The firm has a market cap of $5.47 billion, a PE ratio of 15.05, a P/E/G ratio of 1.39 and a beta of 1.05. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.81.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Weatherford International had a return on equity of 21.50% and a net margin of 7.66%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 EPS. On average, analysts forecast that Weatherford International will post 5.18 EPS for the current year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, Director Benjamin Duster, IV sold 6,000 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total transaction of $516,540.00. Following the completion of the transaction, the director owned 11,187 shares in the company, valued at approximately $963,088.83. This represents a 34.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacqueline Mutschler sold 4,094 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $90.50, for a total transaction of $370,507.00. Following the completion of the sale, the director owned 29,093 shares of the company’s stock, valued at $2,632,916.50. This trade represents a 12.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 26,094 shares of company stock valued at $2,244,487. 2.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WFRD. IFP Advisors Inc lifted its position in Weatherford International by 72.0% in the second quarter. IFP Advisors Inc now owns 313 shares of the company’s stock valued at $26,000 after purchasing an additional 131 shares during the period. Plato Investment Management Ltd purchased a new stake in Weatherford International in the 2nd quarter valued at approximately $38,000. Summit Securities Group LLC purchased a new stake in Weatherford International in the 1st quarter valued at approximately $53,000. EverSource Wealth Advisors LLC increased its position in Weatherford International by 32.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $88,000 after purchasing an additional 231 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in Weatherford International by 31.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,770 shares of the company’s stock worth $144,000 after purchasing an additional 420 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

Weatherford International plc is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the exploration, drilling, completion, production and intervention stages of the well life cycle, helping energy companies develop and manage onshore and offshore assets.

The company’s portfolio includes drilling and formation-evaluation services, well construction and completion technologies, production optimization, artificial-lift systems, well intervention and pressure-control services.