Weatherford International (NASDAQ:WFRD) PT Raised to $135.00

Weatherford International (NASDAQ:WFRD) had its price target hoisted by equities research analysts at Bank of America from $123.00 to $135.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 18.72% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Piper Sandler increased their price objective on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Benchmark raised their target price on shares of Weatherford International from $115.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Barclays assumed coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $131.00.

Weatherford International Trading Down 1.6 %

Shares of WFRD stock opened at $113.71 on Monday. Weatherford International has a 52-week low of $55.81 and a 52-week high of $127.45. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 20.13 and a beta of 0.73. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79. The firm has a fifty day moving average of $110.68 and a 200-day moving average of $99.25.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.48. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. On average, equities research analysts forecast that Weatherford International will post 6.74 earnings per share for the current fiscal year.

Insider Activity at Weatherford International

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

Institutional Trading of Weatherford International

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Weatherford International by 205.1% in the first quarter. JPMorgan Chase & Co. now owns 139,569 shares of the company’s stock valued at $4,647,000 after purchasing an additional 93,829 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Weatherford International by 8.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,198 shares of the company’s stock valued at $406,000 after buying an additional 958 shares in the last quarter. Citigroup Inc. grew its stake in shares of Weatherford International by 2,131.7% in the first quarter. Citigroup Inc. now owns 28,856 shares of the company’s stock valued at $961,000 after buying an additional 27,563 shares in the last quarter. BlackRock Inc. grew its stake in shares of Weatherford International by 1.7% in the first quarter. BlackRock Inc. now owns 1,182,007 shares of the company’s stock valued at $39,361,000 after buying an additional 19,287 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Weatherford International by 69.0% in the first quarter. Dimensional Fund Advisors LP now owns 476,799 shares of the company’s stock valued at $15,873,000 after buying an additional 194,685 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Company Profile

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.