Bank of America Raises Weatherford International (NASDAQ:WFRD) Price Target to $135.00

Weatherford International (NASDAQ:WFRD) had its price objective hoisted by Bank of America from $123.00 to $135.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on WFRD. Benchmark boosted their price target on shares of Weatherford International from $115.00 to $155.00 and gave the stock a buy rating in a report on Monday, April 1st. TheStreet upgraded shares of Weatherford International from a c rating to a b rating in a research note on Monday, March 11th. Barclays began coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They issued an overweight rating and a $135.00 target price on the stock. Finally, Piper Sandler boosted their target price on shares of Weatherford International from $138.00 to $180.00 and gave the company an overweight rating in a research note on Monday, April 8th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $131.00.

Weatherford International Stock Down 2.9 %

Weatherford International stock opened at $110.41 on Monday. Weatherford International has a fifty-two week low of $55.81 and a fifty-two week high of $127.45. The stock has a market cap of $7.98 billion, a PE ratio of 19.54 and a beta of 0.73. The firm’s 50-day simple moving average is $111.01 and its 200 day simple moving average is $99.33. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.48. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Research analysts predict that Weatherford International will post 6.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Girish Saligram sold 60,000 shares of the company’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 sale, the chief executive officer now owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Girish Saligram sold 60,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total value of $6,214,200.00. Following the transaction, the chief executive officer now owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott C. Weatherholt sold 40,455 shares of the stock in a transaction 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 in the company, valued at approximately $12,365,629.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,455 shares of company stock valued at $13,628,764. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

A number of institutional investors have recently made changes to their positions in WFRD. Geneos Wealth Management Inc. bought a new position in shares of Weatherford International in the 1st quarter worth $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Weatherford International in the 2nd quarter valued at $25,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Weatherford International in the 4th quarter valued at $27,000. Quarry LP purchased a new stake in shares of Weatherford International in the 1st quarter valued at $28,000. Finally, Parallel Advisors LLC boosted its stake in shares of Weatherford International by 189.0% in the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

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.