Weatherford International (NASDAQ:WFRD) PT Raised to $160.00

Weatherford International (NASDAQ:WFRD) had its target price hoisted by equities researchers at Barclays from $135.00 to $160.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 29.11% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on WFRD. Bank of America increased their price target on shares of Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Raymond James boosted their price target on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. Benchmark reissued a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research note on Wednesday. Piper Sandler upped their target price on Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Weatherford International has an average rating of “Buy” and a consensus target price of $136.89.

Weatherford International Price Performance

Shares of NASDAQ WFRD traded up $0.28 during mid-day trading on Friday, reaching $123.93. The company had a trading volume of 89,649 shares, compared to its average volume of 820,561. The business’s 50-day simple moving average is $113.33 and its 200 day simple moving average is $100.50. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 0.99 and a beta of 0.73. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 2.72. Weatherford International has a one year low of $55.81 and a one year high of $127.45.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. On average, research analysts predict that Weatherford International will post 6.73 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 stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the sale, the chief executive officer now owns 146,895 shares in the company, valued at approximately $15,213,915.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other 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 transaction of $1,163,760.00. Following the transaction, the director now directly owns 12,801 shares in the company, valued at $1,241,440.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Girish Saligram sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 disclosure for this sale can be found here. Insiders have sold 135,455 shares of company stock valued at $13,628,764 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Weatherford International by 1.6% in the third quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company’s stock valued at $703,254,000 after purchasing an additional 120,401 shares during the last quarter. Boston Partners increased its position in shares of Weatherford International by 3.5% during the fourth quarter. Boston Partners now owns 2,282,581 shares of the company’s stock worth $223,127,000 after purchasing an additional 76,872 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Weatherford International by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,646,650 shares of the company’s stock valued at $148,742,000 after purchasing an additional 76,058 shares during the last quarter. American Century Companies Inc. increased its position in Weatherford International by 5.2% during the 3rd quarter. American Century Companies Inc. now owns 1,340,602 shares of the company’s stock valued at $121,097,000 after buying an additional 65,935 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Weatherford International by 17.6% during the fourth quarter. Jennison Associates LLC now owns 1,284,626 shares of the company’s stock worth $125,675,000 after acquiring an additional 191,855 shares during the last quarter. 97.23% of the stock is currently 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.