Weatherford International (NASDAQ:WFRD) Price Target Raised to $184.00 at Piper Sandler

Weatherford International (NASDAQ:WFRD) had its target price lifted by Piper Sandler from $180.00 to $184.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also commented on WFRD. Raymond James lifted their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the stock a strong-buy rating in a research note on Tuesday, April 16th. Evercore ISI raised their price objective on Weatherford International from $130.00 to $151.00 and gave the stock an outperform rating in a research report on Thursday. Benchmark restated a buy rating and set a $155.00 target price on shares of Weatherford International in a research note on Wednesday. Bank of America upped their price objective on Weatherford International from $123.00 to $135.00 and gave the stock a buy rating in a report on Monday, April 15th. Finally, Barclays initiated coverage on Weatherford International in a report on Wednesday, February 28th. They issued an overweight rating and a $135.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Weatherford International has an average rating of Buy and an average target price of $136.89.

Weatherford International Price Performance

Weatherford International stock traded up $3.03 during mid-day trading on Thursday, reaching $126.68. The company had a trading volume of 250,078 shares, compared to its average volume of 822,398. Weatherford International has a fifty-two week low of $55.81 and a fifty-two week high of $127.45. The company has a current ratio of 2.72, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The company has a market cap of $9.16 billion, a P/E ratio of 20.02, a P/E/G ratio of 0.99 and a beta of 0.73. The business has a fifty day simple moving average of $113.33 and a 200 day simple moving average of $100.50.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 EPS. On average, equities research analysts predict that Weatherford International will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Weatherford International

In other news, CAO Desmond J. Mills sold 11,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the completion of the sale, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Benjamin Duster sold 12,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares in the company, valued at approximately $1,241,440.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total value of $1,078,440.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,211 shares in the company, valued at $1,785,406.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,455 shares of company stock worth $13,628,764. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp acquired a new position in shares of Weatherford International during the 3rd quarter valued at about $114,430,000. Norges Bank acquired a new stake in shares of Weatherford International during the 4th quarter worth approximately $89,762,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Weatherford International by 1,261.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 381,100 shares of the company’s stock worth $34,425,000 after buying an additional 353,100 shares during the period. Acadian Asset Management LLC lifted its position in shares of Weatherford International by 101.1% during the 3rd quarter. Acadian Asset Management LLC now owns 656,738 shares of the company’s stock worth $59,309,000 after buying an additional 330,133 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Weatherford International by 1,564.7% during the 3rd quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock worth $25,398,000 after buying an additional 264,284 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.

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.