Weatherford International (NASDAQ:WFRD) Now Covered by Royal Bank Of Canada

Equities research analysts at Royal Bank Of Canada started coverage on shares of Weatherford International (NASDAQ:WFRD) in a research note issued on Wednesday. The brokerage set an “outperform” rating and a $105.00 price target on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 21.53% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. UBS Group increased their price objective on Weatherford International from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. The Goldman Sachs Group boosted their target price on Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, January 21st. Piper Sandler lifted their price target on shares of Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Finally, Wall Street Zen cut shares of Weatherford International from a “strong-buy” rating to a “buy” rating in a report on Monday. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.33.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $86.40 on Wednesday. The firm has a market cap of $6.20 billion, a P/E ratio of 14.57 and a beta of 0.78. Weatherford International has a twelve month low of $36.74 and a twelve month high of $110.57. 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 company has a 50 day moving average of $94.92 and a 200 day moving average of $79.58.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, February 3rd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.42 by $0.49. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business posted $1.50 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. As a group, research analysts expect that Weatherford International will post 5.89 EPS for the current fiscal year.

Insider Transactions at Weatherford International

In other Weatherford International news, CEO Girish Saligram sold 100,000 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently made changes to their positions in WFRD. Smartleaf Asset Management LLC grew its position in Weatherford International by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after buying an additional 178 shares during the period. Los Angeles Capital Management LLC bought a new position in Weatherford International in the fourth quarter worth approximately $26,000. Quent Capital LLC purchased a new position in shares of Weatherford International during the 3rd quarter worth $26,000. Leonteq Securities AG bought a new stake in shares of Weatherford International during the 4th quarter valued at $39,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Weatherford International during the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

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.