Weatherford International’s (WFRD) Buy Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of Weatherford International (NASDAQ:WFRD) in a research report report published on Wednesday, Benzinga reports. Benchmark currently has a $155.00 target price on the stock.

Several other equities analysts have also commented on WFRD. Bank of America increased their price target on shares of Weatherford International from $145.00 to $150.00 and gave the company a buy rating in a research note on Monday, July 15th. Evercore ISI increased their price target on shares of Weatherford International from $130.00 to $151.00 and gave the company an outperform rating in a research note on Thursday, April 25th. Barclays increased their price target on shares of Weatherford International from $135.00 to $160.00 and gave the company an overweight rating in a research note on Friday, April 26th. Citigroup started coverage on shares of Weatherford International in a research note on Tuesday, May 14th. They issued a buy rating and a $155.00 price target on the stock. Finally, Piper Sandler increased their price target on shares of Weatherford International from $180.00 to $184.00 and gave the company an overweight rating in a research note on Thursday, April 25th. 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, the company presently has a consensus rating of Buy and an average price target of $153.88.

Weatherford International Stock Down 0.3 %

Shares of NASDAQ:WFRD opened at $117.38 on Wednesday. The firm’s 50 day moving average price is $120.43 and its 200 day moving average price is $113.34. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. Weatherford International has a fifty-two week low of $78.53 and a fifty-two week high of $135.00. The company has a quick ratio of 1.37, a current ratio of 1.99 and a debt-to-equity ratio of 1.31.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.08). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. As a group, equities research analysts predict that Weatherford International will post 7.09 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%.

Hedge Funds Weigh In On Weatherford International

Hedge funds have recently modified their holdings of the business. Transcendent Capital Group LLC purchased a new position in shares of Weatherford International during the first quarter worth approximately $29,000. McGlone Suttner Wealth Management Inc. purchased a new position in Weatherford International in the 4th quarter valued at $27,000. Fidelis Capital Partners LLC purchased a new position in Weatherford International in the 1st quarter valued at $33,000. Parallel Advisors LLC grew its position in Weatherford International by 189.0% in the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after buying an additional 189 shares during the last quarter. Finally, Rise Advisors LLC purchased a new position in Weatherford International in the 1st quarter valued at $34,000. 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.