Weatherford International (WFRD) – Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Weatherford International (NASDAQ: WFRD) in the last few weeks:

• 4/16/2024 – Weatherford International had its price target raised by analysts at Raymond James from $134.00 to $152.00. They now have a “strong-buy” rating on the stock.
• 4/15/2024 – Weatherford International had its price target raised by analysts at Bank of America Co. from $123.00 to $135.00. They now have a “buy” rating on the stock.
• 4/8/2024 – Weatherford International had its price target raised by analysts at Piper Sandler from $138.00 to $180.00. They now have an “overweight” rating on the stock.
• 4/1/2024 – Weatherford International had its price target raised by analysts at Benchmark Co. from $115.00 to $155.00. They now have a “buy” rating on the stock.
• 3/11/2024 – Weatherford International was upgraded by analysts at TheStreet from a “c” rating to a “b” rating.
• 2/28/2024 – Weatherford International is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $135.00 price target on the stock.

Weatherford International Price Performance

Weatherford International stock traded up $0.35 during midday trading on Friday, reaching $111.28. 206,693 shares of the stock traded hands, compared to its average volume of 806,546. The stock’s fifty day moving average is $111.26 and its 200-day moving average is $99.41. Weatherford International plc has a 12 month low of $55.81 and a 12 month high of $127.45. The stock has a market cap of $8.05 billion, a P/E ratio of 19.70, a PEG ratio of 0.88 and a beta of 0.73. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.48. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company earned $1.12 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts anticipate that Weatherford International plc will post 6.73 EPS for the current year.

Insider Activity at Weatherford International

In related news, EVP Scott C. Weatherholt sold 40,455 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.91, for a total transaction of $4,001,404.05. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott C. Weatherholt sold 40,455 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were 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 of the company’s stock, valued at $12,365,629.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,455 shares of company stock valued at $13,628,764. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

Institutional investors and hedge funds have recently modified their holdings of the business. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Weatherford International during the 4th quarter worth approximately $27,000. Parallel Advisors LLC lifted its stake in shares of Weatherford International by 189.0% during the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after acquiring an additional 189 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Weatherford International during the 1st quarter worth approximately $34,000. Quadrant Capital Group LLC lifted its stake in shares of Weatherford International by 539.1% during the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after acquiring an additional 248 shares during the last quarter. Finally, CWM LLC increased its holdings in Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares during the period. 97.23% of the stock is owned by institutional investors.

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.