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

Weatherford International (NASDAQ:WFRD) had its price target raised by Bank of America from $135.00 to $145.00 in a report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also commented on the stock. Raymond James upped their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the company a strong-buy rating in a research note on Tuesday, April 16th. Benchmark reaffirmed a buy rating and set a $155.00 price objective on shares of Weatherford International in a research note on Wednesday, April 24th. TheStreet raised shares of Weatherford International from a c rating to a b rating in a research note on Monday, March 11th. Barclays upped their price objective on shares of Weatherford International from $135.00 to $160.00 and gave the company an overweight rating in a research note on Friday, April 26th. Finally, Piper Sandler increased their price target on shares of Weatherford International from $180.00 to $184.00 and gave the stock an overweight rating in a research report on Thursday, April 25th. 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.com, Weatherford International currently has an average rating of Buy and a consensus target price of $145.00.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $118.85 on Monday. The firm has a 50-day moving average of $114.87 and a two-hundred day moving average of $101.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.00 and a beta of 0.73. Weatherford International has a twelve month low of $55.81 and a twelve month high of $129.70.

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

Insider Transactions at Weatherford International

In related news, 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 transaction of $4,001,404.05. Following the transaction, the executive vice president now owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, 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 transaction of $4,001,404.05. Following the transaction, the executive vice president now owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The sale was disclosed in a legal 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 that occurred on Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the transaction, the chief executive officer now directly owns 146,895 shares in the company, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. Insiders sold 145,455 shares of company stock valued at $14,863,464 over the last three months. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust grew its holdings in Weatherford International by 23.6% during the third quarter. Parkside Financial Bank & Trust now owns 560 shares of the company’s stock valued at $51,000 after purchasing an additional 107 shares during the last quarter. Xponance Inc. lifted its stake in Weatherford International by 1.1% during the fourth quarter. Xponance Inc. now owns 10,532 shares of the company’s stock worth $1,030,000 after purchasing an additional 116 shares during the period. Oliver Luxxe Assets LLC lifted its stake in Weatherford International by 1.1% during the first quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock worth $1,307,000 after purchasing an additional 125 shares during the period. Mackenzie Financial Corp lifted its stake in Weatherford International by 3.2% during the fourth quarter. Mackenzie Financial Corp now owns 4,497 shares of the company’s stock worth $440,000 after purchasing an additional 140 shares during the period. Finally, CWM LLC lifted its stake in Weatherford International by 145.7% during the fourth quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after purchasing an additional 185 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.