Weatherford International (NASDAQ:WFRD) Given New $184.00 Price Target at Piper Sandler

Weatherford International (NASDAQ:WFRD) had its target price hoisted by Piper Sandler from $180.00 to $184.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 48.65% from the company’s previous close.

A number of other analysts have also issued reports on WFRD. Benchmark reissued a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research report on Wednesday. Bank of America increased their price target on shares of Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Raymond James increased their price target on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 16th. Evercore ISI increased their price target on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Barclays assumed 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 for the company. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $134.11.

Weatherford International Trading Down 1.0 %

Shares of WFRD traded down $1.23 during midday trading on Thursday, hitting $123.78. The stock had a trading volume of 101,700 shares, compared to its average volume of 819,167. Weatherford International has a fifty-two week low of $55.81 and a fifty-two week high of $127.45. The business has a 50-day simple moving average of $112.90 and a two-hundred day simple moving average of $100.33. The firm has a market cap of $8.95 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 0.94 and a beta of 0.73. The company has a current ratio of 1.79, a quick ratio of 1.37 and a debt-to-equity ratio of 1.86.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. Weatherford International had a net margin of 8.61% and a return on equity of 58.17%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company posted $0.97 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts forecast that Weatherford International will post 6.73 EPS for the current year.

Insider Activity at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 18,211 shares in the company, valued at $1,785,406.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of Weatherford International stock in a transaction on Thursday, February 8th. The shares were 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 owns 18,211 shares in the company, valued at $1,785,406.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction on Wednesday, February 21st. The stock was 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 in the company, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,455 shares of company stock valued at $13,628,764. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System lifted its holdings in shares of Weatherford International by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 20,800 shares of the company’s stock valued at $2,401,000 after acquiring an additional 500 shares during the period. Raymond James & Associates raised its holdings in shares of Weatherford International by 14.5% in the first quarter. Raymond James & Associates now owns 77,248 shares of the company’s stock valued at $8,916,000 after buying an additional 9,799 shares during the last quarter. Measured Wealth Private Client Group LLC raised its holdings in shares of Weatherford International by 6.3% in the first quarter. Measured Wealth Private Client Group LLC now owns 4,022 shares of the company’s stock valued at $464,000 after buying an additional 238 shares during the last quarter. State of Michigan Retirement System raised its holdings in Weatherford International by 2.9% during the 1st quarter. State of Michigan Retirement System now owns 17,800 shares of the company’s stock worth $2,054,000 after purchasing an additional 500 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Weatherford International by 669.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company’s stock worth $1,872,000 after purchasing an additional 14,112 shares during the last quarter. 97.23% of the stock is owned by 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.