Weatherford International (NASDAQ:WFRD) Price Target Increased to $151.00 by Analysts at Evercore ISI

Weatherford International (NASDAQ:WFRD - Free Report) had its price target increased by Evercore ISI from $130.00 to $151.00 in a research report report published on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Bank of America raised their target price on Weatherford International from $123.00 to $135.00 and gave the company a buy rating in a report on Monday, April 15th. Piper Sandler raised their price objective on Weatherford International from $138.00 to $180.00 and gave the company an overweight rating in a report on Monday, April 8th. Barclays began coverage on Weatherford International in a report on Wednesday, February 28th. They set an overweight rating and a $135.00 price objective on the stock. Benchmark reissued a buy rating and set a $155.00 price objective on shares of Weatherford International in a report on Wednesday. Finally, Raymond James raised their price objective on Weatherford International from $134.00 to $152.00 and gave the company a strong-buy rating in a report on Tuesday, April 16th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $134.11.

Weatherford International Stock Performance

Shares of NASDAQ WFRD traded down $1.36 during trading hours on Thursday, reaching $123.65. 931,713 shares of the stock were exchanged, compared to its average volume of 829,809. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 0.94 and a beta of 0.73. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79. Weatherford International has a 52 week low of $55.81 and a 52 week high of $127.45. The stock's fifty day simple moving average is $113.33 and its 200 day simple moving average is $100.50.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.09. Weatherford International had a return on equity of 58.17% and a net margin of 8.61%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the company earned $0.97 earnings per share. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts predict that Weatherford International will post 6.73 EPS for the current year.

Insider Buying and Selling

In related news, Director Benjamin Duster sold 12,000 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the completion of the transaction, the director now directly owns 12,801 shares of the company's stock, valued at approximately $1,241,440.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Benjamin Duster sold 12,000 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the completion of the transaction, the director now directly owns 12,801 shares of the company's stock, valued at approximately $1,241,440.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the firm's 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 transaction, the chief accounting officer now directly owns 18,211 shares of the company's stock, valued at $1,785,406.44. 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 in the last three months. Insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Weatherford International by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company's stock worth $703,254,000 after acquiring an additional 120,401 shares in the last quarter. Boston Partners boosted its stake in Weatherford International by 3.5% during the 4th quarter. Boston Partners now owns 2,282,581 shares of the company's stock valued at $223,127,000 after purchasing an additional 76,872 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Weatherford International by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,646,650 shares of the company's stock worth $148,742,000 after buying an additional 76,058 shares during the last quarter. American Century Companies Inc. lifted its stake in Weatherford International by 5.2% in the third quarter. American Century Companies Inc. now owns 1,340,602 shares of the company's stock valued at $121,097,000 after purchasing an additional 65,935 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Weatherford International by 17.6% in the fourth quarter. Jennison Associates LLC now owns 1,284,626 shares of the company's stock valued at $125,675,000 after purchasing an additional 191,855 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

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.