Weatherford International (NASDAQ:WFRD) Price Target Raised to $118.00 at Piper Sandler

Weatherford International (NASDAQ:WFRD) had its price objective boosted by research analysts at Piper Sandler from $115.00 to $118.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 11.58% from the company’s current price.

WFRD has been the subject of a number of other research reports. Citigroup upped their price target on Weatherford International from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. The Goldman Sachs Group upped their price target on Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. 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 price objective for the company. Wall Street Zen lowered Weatherford International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 1st. Finally, UBS Group upped their price objective on Weatherford International from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 31st. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Weatherford International currently has a consensus rating of “Moderate Buy” and an average price target of $102.33.

Weatherford International Stock Performance

WFRD traded up $4.77 during midday trading on Thursday, reaching $105.76. The company had a trading volume of 409,759 shares, compared to its average volume of 1,342,546. The company has a quick ratio of 1.65, a current ratio of 2.19 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average of $97.23 and a two-hundred day moving average of $85.23. The company has a market cap of $7.58 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.25 and a beta of 0.83. Weatherford International has a 1 year low of $40.12 and a 1 year high of $110.57.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Weatherford International had a return on equity of 29.05% and a net margin of 9.49%.The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. As a group, equities research analysts predict that Weatherford International will post 5.64 earnings per share 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 dated Friday, February 6th. The stock was sold at an average price of $105.50, for a total value of $10,550,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds have recently made changes to their positions in the company. Capital Research Global Investors lifted its position in shares of Weatherford International by 1.8% in the third quarter. Capital Research Global Investors now owns 5,673,603 shares of the company’s stock worth $388,245,000 after buying an additional 98,663 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Weatherford International by 5.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,156,773 shares of the company’s stock worth $403,571,000 after buying an additional 281,984 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Weatherford International by 3.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,928,226 shares of the company’s stock worth $150,903,000 after buying an additional 66,553 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Weatherford International by 712.8% in the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock worth $82,812,000 after buying an additional 1,443,512 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Weatherford International by 43.5% in the third quarter. First Trust Advisors LP now owns 1,572,422 shares of the company’s stock worth $107,601,000 after buying an additional 476,575 shares in the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

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.