Weatherford International plc (NASDAQ:WFRD) Given Average Recommendation of “Buy” by Analysts

Weatherford International plc (NASDAQ:WFRD – Get Rating) has received an average rating of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $82.00.

Several equities analysts have recently commented on WFRD shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Weatherford International from $77.00 to $82.00 in a research report on Thursday, April 27th. Raymond James initiated coverage on Weatherford International in a research note on Tuesday, May 2nd. They issued a “strong-buy” rating and a $100.00 price objective on the stock. TheStreet upgraded Weatherford International from a “d” rating to a “c” rating in a report on Tuesday, April 25th. Piper Sandler raised their target price on Weatherford International from $70.00 to $93.00 in a research note on Thursday, February 9th. Finally, The Goldman Sachs Group raised their target price on Weatherford International from $53.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 9th.

Weatherford International Trading Up 2.5 %

WFRD opened at $60.14 on Friday. Weatherford International has a one year low of $16.96 and a one year high of $70.18. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 24.75 and a beta of 0.80. The business has a 50 day simple moving average of $59.50 and a two-hundred day simple moving average of $54.81. The company has a debt-to-equity ratio of 3.53, a current ratio of 2.01 and a quick ratio of 1.54.

Weatherford International (NASDAQ:WFRD – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. Weatherford International had a return on equity of 33.33% and a net margin of 3.89%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.13 billion. Analysts predict that Weatherford International will post 4.87 EPS for the current year.

Insider Activity at Weatherford International

In related news, CAO Desmond J. Mills sold 15,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $57.42, for a total value of $861,300.00. Following the completion of the sale, the chief accounting officer now directly owns 26,761 shares of the company’s stock, valued at $1,536,616.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WFRD. Geneos Wealth Management Inc. purchased a new position in shares of Weatherford International in the 1st quarter valued at $25,000. Point72 Hong Kong Ltd bought a new stake in shares of Weatherford International during the 2nd quarter worth about $25,000. Quarry LP acquired a new position in shares of Weatherford International in the 1st quarter worth approximately $28,000. Point72 Asset Management L.P. acquired a new position in shares of Weatherford International in the 4th quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Weatherford International during the fourth quarter valued at approximately $79,000. 95.24% of the stock is currently owned by institutional investors and hedge funds.

About Weatherford International

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Weatherford International plc engages in the provision of equipment and services to the oil and natural gas exploration and production industry. It operates through following segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC) and Production and Intervention (PRI). The DRE segment offers managed pressure drilling, drilling services, wire line, and drilling fluids.