Weatherford International (NASDAQ:WFRD) Given New $135.00 Price Target at Bank of America

Weatherford International (NASDAQ:WFRD) had its price objective raised by Bank of America from $123.00 to $135.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. TheStreet upgraded shares of Weatherford International from a c rating to a b rating in a research report on Monday, March 11th. Benchmark lifted their price objective on shares of Weatherford International from $115.00 to $155.00 and gave the company a buy rating in a research report on Monday, April 1st. Piper Sandler boosted their price target on shares of Weatherford International from $138.00 to $180.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Finally, Barclays started coverage on shares of Weatherford International in a research report on Wednesday, February 28th. They issued an overweight rating and a $135.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Weatherford International currently has a consensus rating of Buy and an average price target of $131.00.

Weatherford International Trading Down 2.9 %

Weatherford International stock opened at $110.41 on Monday. The stock has a market cap of $7.98 billion, a P/E ratio of 19.54 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 has a 1 year low of $55.81 and a 1 year high of $127.45. The firm’s 50 day moving average price is $111.01 and its 200-day moving average price is $99.33.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.48. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 earnings per share. On average, equities analysts predict that Weatherford International will post 6.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 125,019 shares in the company, valued at $12,365,629.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the business’s 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 transaction, the director now owns 12,801 shares in the company, valued at $1,241,440.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott C. Weatherholt sold 40,455 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 125,019 shares in the company, 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 over the last quarter. Insiders own 2.20% of the company’s stock.

Institutional Trading of Weatherford International

Large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. purchased a new stake in shares of Weatherford International during the first quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Weatherford International during the second quarter valued at $25,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Weatherford International during the fourth quarter valued at $27,000. Parallel Advisors LLC boosted its stake in shares of Weatherford International by 189.0% during 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 during the period. Finally, Quarry LP purchased a new stake in shares of Weatherford International during the first quarter valued at $28,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

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.