Weatherford International (NASDAQ:WFRD) Stock Rating Reaffirmed by Benchmark

Weatherford International (NASDAQ:WFRD)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a research report issued on Wednesday, Benzinga reports. They currently have a $155.00 price objective on the stock. Benchmark’s price target points to a potential upside of 25.35% from the company’s previous close.

WFRD has been the topic of several other reports. Bank of America increased their price objective on Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, April 15th. TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Barclays assumed coverage on Weatherford International in a research report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price target on the stock. Piper Sandler raised their price target on Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Raymond James raised their price target on Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 16th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $134.11.

Weatherford International Stock Performance

NASDAQ:WFRD opened at $123.65 on Wednesday. The business’s 50-day moving average price is $113.33 and its two-hundred day moving average price is $100.50. Weatherford International has a twelve month low of $55.81 and a twelve month high of $127.45. The stock has a market cap of $8.94 billion, a P/E ratio of 20.01, a PEG ratio of 0.94 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 released 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. Weatherford International had a return on equity of 58.17% and a net margin of 8.61%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm posted $0.97 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts predict that Weatherford International will post 6.73 EPS for the current fiscal year.

Insider Activity

In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 146,895 shares in the company, valued at $15,213,915.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was 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 owns 18,211 shares in the company, valued at $1,785,406.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Girish Saligram sold 60,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. Insiders sold a total of 135,455 shares of company stock worth $13,628,764 in the last quarter. 2.20% of the stock is owned by company insiders.

Institutional Trading of Weatherford International

Several large investors have recently modified their holdings of the company. Parkside Financial Bank & Trust grew its holdings in shares of Weatherford International by 23.6% in the third quarter. Parkside Financial Bank & Trust now owns 560 shares of the company’s stock worth $51,000 after acquiring an additional 107 shares during the period. Xponance Inc. grew its holdings in shares of Weatherford International by 1.1% in the fourth quarter. Xponance Inc. now owns 10,532 shares of the company’s stock worth $1,030,000 after acquiring an additional 116 shares during the period. Oliver Luxxe Assets LLC grew its holdings in shares of Weatherford International by 1.1% in the first quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock worth $1,307,000 after acquiring an additional 125 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Weatherford International by 3.2% in the fourth quarter. Mackenzie Financial Corp now owns 4,497 shares of the company’s stock worth $440,000 after acquiring an additional 140 shares during the period. Finally, CWM LLC grew its holdings in shares of Weatherford International by 145.7% in the fourth quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after acquiring an additional 185 shares during the period. Institutional investors 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.