Piper Sandler Lowers Weatherford International (NASDAQ:WFRD) Price Target to $82.00

Weatherford International (NASDAQ:WFRD) had its price target cut by investment analysts at Piper Sandler from $87.00 to $82.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price indicates a potential upside of 21.86% from the company’s previous close.

Several other research analysts also recently commented on WFRD. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $132.00 to $98.00 in a report on Friday, December 13th. Barclays reduced their target price on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Raymond James decreased their price target on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating for the company in a research note on Friday, February 7th. Citigroup dropped their target price on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Bank of America cut their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $109.25.

Weatherford International Price Performance

WFRD opened at $67.29 on Monday. The firm has a market cap of $4.89 billion, a PE ratio of 10.01, a P/E/G ratio of 1.48 and a beta of 0.60. The stock has a 50-day moving average price of $71.01 and a 200-day moving average price of $85.17. Weatherford International has a 1 year low of $60.45 and a 1 year high of $135.00. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.80 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. Sell-side analysts predict that Weatherford International will post 6.14 earnings per share for the current fiscal year.

Insider Activity

In other Weatherford International news, CFO Arunava Mitra sold 10,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.57, for a total value of $675,700.00. Following the transaction, the chief financial officer now directly owns 21,072 shares in the company, valued at approximately $1,423,835.04. This represents a 32.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David John Reed sold 4,762 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $72.66, for a total value of $346,006.92. Following the completion of the transaction, the executive vice president now owns 11,109 shares of the company’s stock, valued at $807,179.94. This trade represents a 30.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,692 shares of company stock valued at $6,207,725. Insiders own 1.60% of the company’s stock.

Institutional Trading of Weatherford International

Hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC boosted its position in shares of Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares during the last quarter. Zions Bancorporation N.A. purchased a new stake in Weatherford International during the fourth quarter valued at about $29,000. Farther Finance Advisors LLC increased its stake in Weatherford International by 364.9% during the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock worth $30,000 after acquiring an additional 281 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Weatherford International in the 3rd quarter worth about $34,000. Finally, R Squared Ltd acquired a new position in shares of Weatherford International in the 4th quarter valued at about $36,000. 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.