Weatherford International (NASDAQ:WFRD) Price Target Raised to $160.00

Weatherford International (NASDAQ:WFRD) had its price target lifted by Barclays from $135.00 to $160.00 in a research report report published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

WFRD has been the topic of several other reports. Benchmark restated a buy rating and issued a $155.00 price objective on shares of Weatherford International in a report on Wednesday, April 24th. Piper Sandler increased their target price on shares of Weatherford International from $180.00 to $184.00 and gave the stock an overweight rating in a report on Thursday. Bank of America increased their target price on shares of Weatherford International from $123.00 to $135.00 and gave the stock a buy rating in a report on Monday, April 15th. Raymond James increased their target price on shares of Weatherford International from $134.00 to $152.00 and gave the stock a strong-buy rating in a report on Tuesday, April 16th. Finally, TheStreet upgraded shares of Weatherford International from a c rating to a b rating in a report on Monday, March 11th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Weatherford International has a consensus rating of Buy and a consensus price target of $143.75.

Weatherford International Price Performance

Shares of WFRD stock opened at $127.97 on Friday. Weatherford International has a 1 year low of $55.81 and a 1 year high of $129.70. The firm’s 50 day moving average is $113.86 and its 200-day moving average is $100.84. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.01 and a beta of 0.73. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business earned $0.97 earnings per share. Weatherford International’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts forecast that Weatherford International will post 6.93 EPS for the current fiscal year.

Insider Transactions at Weatherford International

In other news, Director Charles M. Sledge sold 10,000 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the completion of the sale, the director now owns 32,729 shares of the company’s stock, valued at $4,041,049.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Benjamin Duster sold 12,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles M. Sledge sold 10,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the sale, the director now directly owns 32,729 shares of the company’s stock, valued at approximately $4,041,049.63. The disclosure for this sale can be found here. Insiders sold 145,455 shares of company stock valued at $14,863,464 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. bought a new position in Weatherford International in the fourth quarter valued at $27,000. Parallel Advisors LLC grew its position in Weatherford International by 189.0% in the fourth 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. Quadrant Capital Group LLC grew its position in Weatherford International by 539.1% in the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after purchasing an additional 248 shares in the last quarter. Huntington National Bank bought a new position in Weatherford International in the third quarter valued at $30,000. Finally, CWM LLC grew its position in Weatherford International by 145.7% in the fourth quarter. CWM LLC now owns 312 shares of the company’s stock valued at $31,000 after purchasing an additional 185 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.