Raymond James Increases Weatherford International (NASDAQ:WFRD) Price Target to $152.00

Weatherford International (NASDAQ:WFRD) had its price objective upped by analysts at Raymond James from $134.00 to $152.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ target price would indicate a potential upside of 37.67% from the stock’s previous close.

A number of other brokerages have also weighed in on WFRD. Benchmark raised their price target on shares of Weatherford International from $115.00 to $155.00 and gave the company a “buy” rating in a report on Monday, April 1st. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Piper Sandler boosted their price objective on shares of Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Bank of America boosted their price objective on shares of Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research report on Monday. Finally, 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 price target on the stock. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $131.00.

Weatherford International Stock Down 2.9 %

Shares of WFRD opened at $110.41 on Tuesday. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 19.54 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 has a 12 month low of $55.81 and a 12 month high of $127.45. The company has a 50-day moving average price of $111.01 and a two-hundred day moving average price of $99.33.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data 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. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $1.12 earnings per share. Equities analysts predict that Weatherford International will post 6.74 EPS for the current fiscal year.

Insider Transactions at Weatherford International

In related news, EVP Scott C. Weatherholt sold 40,455 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $98.91, for a total value of $4,001,404.05. Following the transaction, the executive vice president now owns 125,019 shares in the company, valued at approximately $12,365,629.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $98.04, for a total value of $1,078,440.00. Following the completion of the sale, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott C. Weatherholt sold 40,455 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $12,365,629.29. The disclosure for this sale can be found here. Insiders have sold 135,455 shares of company stock worth $13,628,764 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Weatherford International

Institutional investors have recently bought and sold shares of the business. Huntington National Bank bought a new stake in shares of Weatherford International during the 3rd quarter worth approximately $30,000. New York State Teachers Retirement System increased its stake in Weatherford International by 14.9% in the fourth quarter. New York State Teachers Retirement System now owns 74,676 shares of the company’s stock valued at $7,306,000 after purchasing an additional 9,705 shares in the last quarter. SG Americas Securities LLC increased its stake in Weatherford International by 287.1% in the fourth quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock valued at $2,418,000 after purchasing an additional 18,330 shares in the last quarter. Principal Financial Group Inc. increased its stake in Weatherford International by 1,564.7% in the third quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock valued at $25,398,000 after purchasing an additional 264,284 shares in the last quarter. Finally, First Hawaiian Bank bought a new stake in Weatherford International in the third quarter valued at $738,000. 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.