Weatherford International (NASDAQ:WFRD) Trading Up 2.2% After Analyst Upgrade

Shares of Weatherford International plc (NASDAQ:WFRDGet Free Report) were up 2.2% during mid-day trading on Tuesday after Benchmark raised their price target on the stock from $115.00 to $155.00. Benchmark currently has a buy rating on the stock. Weatherford International traded as high as $121.07 and last traded at $120.99. Approximately 58,025 shares changed hands during trading, a decline of 93% from the average daily volume of 822,428 shares. The stock had previously closed at $118.33.

Other research analysts have also recently issued reports about the stock. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Barclays assumed coverage on shares of Weatherford International in a report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 target price on the stock. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Weatherford International presently has a consensus rating of “Buy” and a consensus price target of $121.56.

Get Our Latest Stock Analysis on Weatherford International

Insider Activity at Weatherford International

In related news, CAO Desmond J. Mills sold 11,000 shares of Weatherford International stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of the business’s stock in a transaction 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 $15,213,915.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the sale, the chief accounting officer now directly owns 18,211 shares in the company, valued at approximately $1,785,406.44. The disclosure for this sale can be found here. Insiders have sold 135,455 shares of company stock valued at $13,628,764 over the last three months. 2.20% of the stock is owned by insiders.

Institutional Trading of Weatherford International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank bought a new stake in shares of Weatherford International during the third quarter worth $30,000. SG Americas Securities LLC lifted its holdings in shares of Weatherford International by 287.1% during the fourth quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock worth $2,418,000 after purchasing an additional 18,330 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Weatherford International by 1,564.7% during the third quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock worth $25,398,000 after purchasing an additional 264,284 shares during the period. First Hawaiian Bank acquired a new position in shares of Weatherford International during the third quarter worth $738,000. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Weatherford International by 58.7% during the third quarter. Los Angeles Capital Management LLC now owns 30,863 shares of the company’s stock worth $2,788,000 after purchasing an additional 11,420 shares during the period. Institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Up 2.5 %

The company has a market cap of $9.14 billion, a price-to-earnings ratio of 22.37 and a beta of 0.73. The business’s fifty day moving average price is $105.48 and its 200 day moving average price is $97.47. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.79 and a quick ratio of 1.37.

Weatherford International (NASDAQ:WFRDGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.48. The company had revenue of $1.36 billion for 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%. Weatherford International’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 earnings per share. Research analysts anticipate that Weatherford International plc will post 6.74 earnings per share for the current fiscal year.

Weatherford International Company Profile

(Get Free Report)

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.

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