Weatherford International (NASDAQ:WFRD) Price Target Increased to $151.00 by Analysts at Evercore ISI

Weatherford International (NASDAQ:WFRD) had its target price hoisted by research analysts at Evercore ISI from $130.00 to $151.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 21.99% from the company’s current price.

WFRD has been the topic of a number of other reports. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research note on Wednesday. Raymond James upped their target price on Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 16th. Barclays started coverage on Weatherford International in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 price objective on the stock. Bank of America upped their price objective on Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $134.11.

Weatherford International Price Performance

Shares of WFRD traded down $1.23 during midday trading on Thursday, hitting $123.78. The company’s stock had a trading volume of 101,700 shares, compared to its average volume of 819,167. Weatherford International has a one year low of $55.81 and a one year high of $127.45. The company’s fifty day simple moving average is $112.90 and its two-hundred day simple moving average is $100.33. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 0.94 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. Weatherford International had a return on equity of 58.17% and a net margin of 8.61%. Weatherford International’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS. As a group, equities analysts expect that Weatherford International will post 6.73 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the transaction, the chief accounting officer now owns 18,211 shares in the company, valued at approximately $1,785,406.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of Weatherford International stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the sale, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott C. Weatherholt sold 40,455 shares of the business’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 value of $4,001,404.05. Following the completion of the sale, the executive vice president now directly owns 125,019 shares in the company, valued at $12,365,629.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,455 shares of company stock valued at $13,628,764. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Weatherford International

Hedge funds have recently made changes to their positions in the stock. AE Wealth Management LLC bought a new position in Weatherford International in the 3rd quarter valued at approximately $243,000. SG Americas Securities LLC raised its stake in Weatherford International by 30.4% during the 3rd quarter. SG Americas Securities LLC now owns 6,385 shares of the company’s stock valued at $577,000 after buying an additional 1,487 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Weatherford International during the 3rd quarter valued at $773,000. Measured Wealth Private Client Group LLC purchased a new stake in Weatherford International during the 3rd quarter valued at $297,000. Finally, Bfsg LLC purchased a new stake in Weatherford International during the 3rd quarter valued at $973,000. 97.23% of the stock is owned by institutional investors.

Weatherford International Company Profile

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.