Raymond James Raises Weatherford International (NASDAQ:WFRD) Price Target to $152.00

Weatherford International (NASDAQ:WFRD) had its price target hoisted by Raymond James from $134.00 to $152.00 in a research report released on Tuesday, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

WFRD has been the topic of a number of other reports. Bank of America lifted their price objective on shares of Weatherford International from $123.00 to $135.00 and gave the company a buy rating in a report on Monday. TheStreet upgraded shares of Weatherford International from a c rating to a b rating in a report on Monday, March 11th. Piper Sandler boosted their target price on shares of Weatherford International from $138.00 to $180.00 and gave the stock an overweight rating in a report on Monday, April 8th. 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. Finally, Benchmark boosted their target price on shares of Weatherford International from $115.00 to $155.00 and gave the stock a buy rating in a report on Monday, April 1st. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $131.00.

Weatherford International Price Performance

NASDAQ WFRD opened at $110.93 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. Weatherford International has a 12-month low of $55.81 and a 12-month high of $127.45. The company has a market capitalization of $8.02 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. The firm’s 50 day moving average is $111.26 and its 200-day moving average is $99.41.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.48. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company earned $1.12 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that Weatherford International will post 6.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International 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 completion of the transaction, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Girish Saligram sold 60,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were 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 owns 146,895 shares of the company’s stock, valued at $15,213,915.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott C. Weatherholt sold 40,455 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at approximately $12,365,629.29. The disclosure for this sale can be found here. Insiders sold a total of 135,455 shares of company stock valued at $13,628,764 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weatherford International

Institutional investors have recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its position in Weatherford International by 23.6% during the third quarter. Parkside Financial Bank & Trust now owns 560 shares of the company’s stock worth $51,000 after purchasing an additional 107 shares during the period. Xponance Inc. lifted its position in Weatherford International by 1.1% during the fourth quarter. Xponance Inc. now owns 10,532 shares of the company’s stock worth $1,030,000 after purchasing an additional 116 shares during the period. Oliver Luxxe Assets LLC lifted its position in Weatherford International by 1.1% during the first quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock worth $1,307,000 after purchasing an additional 125 shares during the period. Mackenzie Financial Corp lifted its position in Weatherford International by 3.2% during the fourth quarter. Mackenzie Financial Corp now owns 4,497 shares of the company’s stock worth $440,000 after purchasing an additional 140 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Weatherford International by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 28,612 shares of the company’s stock worth $1,900,000 after purchasing an additional 178 shares during the period. Institutional investors own 97.23% of the company’s stock.

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.