Weatherford International (NASDAQ:WFRD) PT Raised to $180.00 at Piper Sandler

Weatherford International (NASDAQ:WFRD) had its target price raised by investment analysts at Piper Sandler from $138.00 to $180.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 48.75% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Benchmark raised their price target on shares of Weatherford International from $115.00 to $155.00 and gave the company a “buy” rating in a report on Monday, April 1st. Barclays began 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 for the company. Finally, TheStreet upgraded shares of Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $126.56.

Weatherford International Stock Down 1.8 %

NASDAQ:WFRD opened at $121.01 on Monday. Weatherford International has a fifty-two week low of $55.81 and a fifty-two week high of $127.45. The stock has a market capitalization of $8.75 billion, a P/E ratio of 21.42 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 company’s 50-day simple moving average is $107.60 and its 200-day simple moving average is $98.33.

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

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott C. Weatherholt sold 40,455 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.91, for a total transaction of $4,001,404.05. Following the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The disclosure for this sale can be found here. Insiders sold 135,455 shares of company stock worth $13,628,764 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Weatherford International by 309.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,226,900 shares of the company’s stock valued at $609,179,000 after purchasing an additional 4,706,078 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Weatherford International during the 3rd quarter valued at approximately $114,430,000. State Street Corp increased its holdings in shares of Weatherford International by 317.1% during the 2nd quarter. State Street Corp now owns 1,571,745 shares of the company’s stock valued at $33,274,000 after purchasing an additional 1,194,930 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Weatherford International by 465.6% during the 4th quarter. Millennium Management LLC now owns 1,143,602 shares of the company’s stock valued at $58,232,000 after purchasing an additional 941,426 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Weatherford International during the 4th quarter valued at approximately $89,762,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

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.