Weatherford International (NASDAQ:WFRD) PT Raised to $135.00

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

A number of other brokerages also recently issued reports on WFRD. Benchmark increased their price target on shares of Weatherford International from $115.00 to $155.00 and gave the company a buy rating in a report on Monday, April 1st. TheStreet upgraded shares of Weatherford International from a c rating to a b rating in a research report on Monday, March 11th. Piper Sandler boosted their price target on Weatherford International from $138.00 to $180.00 and gave the stock an overweight rating in a research note on Monday, April 8th. Finally, Barclays began coverage on Weatherford International in a research note on Wednesday, February 28th. They issued an overweight rating and a $135.00 price objective for the company. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Weatherford International currently has an average rating of Buy and a consensus target price of $128.22.

Weatherford International Stock Performance

Shares of NASDAQ WFRD traded down $2.11 during mid-day trading on Monday, hitting $115.56. 578,384 shares of the company were exchanged, compared to its average volume of 820,563. The stock has a 50 day simple moving average of $109.54 and a 200-day simple moving average of $98.93. Weatherford International has a 1-year low of $55.81 and a 1-year high of $127.45. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 20.52 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.42 by $0.48. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.34 billion. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. On average, sell-side analysts forecast that Weatherford International will post 6.74 EPS for the current fiscal year.

Insider Activity at Weatherford International

In related 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 transaction, the chief executive officer now owns 146,895 shares of the company's stock, valued at approximately $15,213,915.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Desmond J. Mills sold 11,000 shares of Weatherford International stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total value of $1,078,440.00. Following the completion of the sale, the chief accounting officer now owns 18,211 shares of the company's stock, valued at $1,785,406.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Girish Saligram sold 60,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 146,895 shares of the company's stock, valued at $15,213,915.15. The disclosure for this sale can be found here. Insiders have sold a total of 135,455 shares of company stock valued at $13,628,764 over the last quarter. Insiders own 2.20% of the company's stock.

Institutional Trading of Weatherford International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WFRD. Huntington National Bank purchased a new position in shares of Weatherford International in the 3rd quarter worth $30,000. New York State Teachers Retirement System raised its holdings in Weatherford International by 14.9% in the fourth quarter. New York State Teachers Retirement System now owns 74,676 shares of the company's stock valued at $7,306,000 after buying an additional 9,705 shares during the period. SG Americas Securities LLC lifted its position in Weatherford International by 287.1% during the fourth quarter. SG Americas Securities LLC now owns 24,715 shares of the company's stock valued at $2,418,000 after buying an additional 18,330 shares in the last quarter. Principal Financial Group Inc. grew its stake in Weatherford International by 1,564.7% during the third quarter. Principal Financial Group Inc. now owns 281,174 shares of the company's stock worth $25,398,000 after buying an additional 264,284 shares during the period. Finally, First Hawaiian Bank acquired a new stake in shares of Weatherford International in the third quarter worth $738,000. Hedge funds and other 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.