Weatherford International PLC (NASDAQ:WFRD) Receives $114.00 Average PT from Analysts

Shares of Weatherford International PLC (NASDAQ:WFRD) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $113.7778.

A number of equities research analysts have issued reports on WFRD shares. Piper Sandler upped their price objective on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Wall Street Zen cut Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Barclays cut their target price on Weatherford International from $156.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Raymond James Financial decreased their price target on Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Finally, Zacks Research downgraded Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th.

Institutional Investors Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently made changes to their positions in WFRD. Royal Bank of Canada grew its holdings in Weatherford International by 223.0% during the 1st quarter. Royal Bank of Canada now owns 122,662 shares of the company’s stock valued at $6,568,000 after purchasing an additional 84,684 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Weatherford International by 129.3% in the first quarter. Goldman Sachs Group Inc. now owns 143,703 shares of the company’s stock worth $7,695,000 after purchasing an additional 81,046 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Weatherford International during the first quarter valued at approximately $258,000. Cetera Investment Advisers boosted its position in shares of Weatherford International by 26.8% during the second quarter. Cetera Investment Advisers now owns 12,764 shares of the company’s stock valued at $642,000 after buying an additional 2,695 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Weatherford International by 83.5% during the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

Weatherford International stock opened at $78.20 on Tuesday. The company’s 50-day moving average price is $95.05 and its 200-day moving average price is $95.76. Weatherford International has a twelve month low of $52.70 and a twelve month high of $113.15. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83. The company has a market cap of $5.61 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 0.93 and a beta of 0.86.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.47. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. On average, equities research analysts forecast that Weatherford International will post 5.94 EPS for the current fiscal year.

About Weatherford International

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.