Weatherford International’s (WFRD) “Buy” Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Weatherford International (NASDAQ:WFRD) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $155.00 price target on the stock.

A number of other research analysts also recently issued reports on WFRD. Piper Sandler increased their price objective on Weatherford International from $138.00 to $180.00 and gave the stock an overweight rating in a report on Monday, April 8th. Barclays initiated coverage on Weatherford International in a report on Wednesday, February 28th. They set an overweight rating and a $135.00 price objective for the company. Raymond James increased their price objective on Weatherford International from $134.00 to $152.00 and gave the stock a strong-buy rating in a report on Tuesday, April 16th. Bank of America increased their price objective on Weatherford International from $123.00 to $135.00 and gave the stock a buy rating in a report on Monday, April 15th. Finally, TheStreet upgraded Weatherford International from a c rating to a b rating in a report on Monday, March 11th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Buy and an average price target of $131.00.

Weatherford International Stock Up 5.9 %

Shares of Weatherford International stock opened at $125.01 on Wednesday. Weatherford International has a 1 year low of $55.81 and a 1 year high of $127.45. The business has a 50-day moving average of $112.90 and a two-hundred day moving average of $100.33. The company has a market capitalization of $9.04 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 0.94 and a beta of 0.73. 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:WFRD) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.09. Weatherford International had a return on equity of 58.17% and a net margin of 8.61%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company earned $0.97 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts predict that Weatherford International will post 6.73 EPS for the current year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the transaction, the chief executive officer now directly owns 146,895 shares in the company, valued at $15,213,915.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly 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, EVP Scott C. Weatherholt sold 40,455 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The disclosure for this sale can be found here. Insiders sold a total of 135,455 shares of company stock worth $13,628,764 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Weatherford International

Hedge funds have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Weatherford International during the 4th quarter worth approximately $27,000. Parallel Advisors LLC lifted its holdings in Weatherford International by 189.0% during the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares during the last quarter. Rise Advisors LLC acquired a new stake in Weatherford International during the 1st quarter worth approximately $34,000. Quadrant Capital Group LLC lifted its holdings in Weatherford International by 539.1% during the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after purchasing an additional 248 shares during the last quarter. Finally, CWM LLC lifted its holdings in Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

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.