Bank of America Raises Weatherford International (NASDAQ:WFRD) Price Target to $145.00

Weatherford International (NASDAQ:WFRD) had its price objective upped by Bank of America from $135.00 to $145.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently weighed in on WFRD. Evercore ISI lifted their price objective on shares of Weatherford International from $130.00 to $151.00 and gave the company an outperform rating in a report on Thursday, April 25th. Raymond James lifted their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the company a strong-buy rating in a report on Tuesday, April 16th. Benchmark reiterated a buy rating and set a $155.00 price target on shares of Weatherford International in a report on Wednesday, April 24th. Piper Sandler upped their target price on shares of Weatherford International from $180.00 to $184.00 and gave the company an overweight rating in a report on Thursday, April 25th. Finally, TheStreet upgraded shares of Weatherford International from a c rating to a b rating in a 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. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $145.00.

Weatherford International Price Performance

Weatherford International stock opened at $118.85 on Monday. The company’s 50 day simple moving average is $114.87 and its 200-day simple moving average is $101.29. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 1.00 and a beta of 0.73. Weatherford International has a 1 year low of $55.81 and a 1 year high of $129.70. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.84.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS. As a group, equities research analysts expect that Weatherford International will post 6.93 earnings per share for the current year.

Insider Transactions at Weatherford International

In other news, Director Charles M. Sledge sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the transaction, the director now directly owns 32,729 shares of the company’s stock, valued at approximately $4,041,049.63. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Charles M. Sledge sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $123.47, for a total value of $1,234,700.00. Following the sale, the director now directly owns 32,729 shares of the company’s stock, valued at approximately $4,041,049.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the sale, the chief executive officer now directly owns 146,895 shares in the company, valued at $15,213,915.15. The disclosure for this sale can be found here. Insiders have sold a total of 145,455 shares of company stock valued at $14,863,464 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weatherford International

Hedge funds have recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Weatherford International during the 4th quarter worth about $27,000. Parallel Advisors LLC lifted its holdings 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 period. Quadrant Capital Group LLC lifted its holdings 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 period. Huntington National Bank acquired a new position in Weatherford International during the third quarter valued at approximately $30,000. Finally, CWM LLC lifted its position in Weatherford International by 145.7% during the fourth quarter. CWM LLC now owns 312 shares of the company’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

About Weatherford International

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.