Weatherford International (NASDAQ:WFRD) Price Target Raised to $115.00

Weatherford International (NASDAQ:WFRD) had its price target raised by equities researchers at Piper Sandler from $110.00 to $115.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 15.63% from the stock’s previous close.

WFRD has been the topic of a number of other reports. Barclays decreased their price target on Weatherford International from $114.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Wall Street Zen cut Weatherford International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 1st. Royal Bank Of Canada assumed coverage on Weatherford International in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 target price for the company. The Goldman Sachs Group lifted their price target on Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Weatherford International has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Weatherford International Price Performance

WFRD stock traded down $0.16 during trading on Wednesday, hitting $99.46. 359,828 shares of the stock traded hands, compared to its average volume of 1,331,357. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 16.78 and a beta of 0.83. Weatherford International has a one year low of $40.12 and a one year high of $110.57. The company has a current ratio of 2.19, a quick ratio of 1.65 and a debt-to-equity ratio of 0.86. The company has a 50 day simple moving average of $97.51 and a 200 day simple moving average of $83.98.

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

Insider Buying and Selling at Weatherford International

In other news, CEO Girish Saligram sold 100,000 shares of the company’s 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 SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Weatherford International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares during the period. Quent Capital LLC acquired a new stake in shares of Weatherford International during the 3rd quarter worth approximately $26,000. Los Angeles Capital Management LLC acquired a new stake in shares of Weatherford International during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Weatherford International by 83.5% during the second 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. Finally, Sound Income Strategies LLC acquired a new position in Weatherford International in the third quarter valued at approximately $35,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

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.