Bank of America Boosts Weatherford International (NASDAQ:WFRD) Price Target to $145.00

Weatherford International (NASDAQ:WFRD - Get Free Report) had its price target raised by equities researchers at Bank of America from $135.00 to $145.00 in a research report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective indicates a potential upside of 12.19% from the stock's current price.

A number of other equities analysts also recently commented on WFRD. Piper Sandler lifted their price target on Weatherford International from $180.00 to $184.00 and gave the stock an "overweight" rating in a research note on Thursday. Benchmark reiterated a "buy" rating and issued a $155.00 price target on shares of Weatherford International in a research note on Wednesday, April 24th. Barclays lifted their price target on Weatherford International from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday. Raymond James raised their target price on shares of Weatherford International from $134.00 to $152.00 and gave the stock a "strong-buy" rating in a report on Tuesday, April 16th. Finally, Evercore ISI raised their target price on shares of Weatherford International from $130.00 to $151.00 and gave the stock an "outperform" rating in a report on Thursday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $145.00.

Weatherford International Stock Up 1.0 %

Shares of Weatherford International stock traded up $1.28 during trading hours on Monday, hitting $129.25. 669,598 shares of the company's stock traded hands, compared to its average volume of 831,106. The stock has a 50 day simple moving average of $113.86 and a 200-day simple moving average of $100.84. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 1.48. The company has a market cap of $9.45 billion, a PE ratio of 20.71, a PEG ratio of 0.99 and a beta of 0.73. Weatherford International has a twelve month low of $55.81 and a twelve month high of $129.70.

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, beating the consensus estimate of $1.41 by $0.09. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The company's revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $0.97 earnings per share. Equities research analysts anticipate that Weatherford International will post 6.93 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.91, for a total transaction of $4,001,404.05. Following the sale, the executive vice president now owns 125,019 shares of the company's stock, valued at $12,365,629.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction that occurred 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 of the company's stock, valued at $15,213,915.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott C. Weatherholt sold 40,455 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.91, for a total value of $4,001,404.05. Following the sale, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $12,365,629.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,455 shares of company stock valued at $14,863,464. Insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WFRD. Van ECK Associates Corp bought a new stake in Weatherford International during the third quarter worth approximately $114,430,000. Norges Bank acquired a new position in Weatherford International in the fourth quarter worth approximately $89,762,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Weatherford International by 1,261.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 381,100 shares of the company's stock worth $34,425,000 after buying an additional 353,100 shares during the last quarter. Acadian Asset Management LLC grew its position in Weatherford International by 101.1% in the third quarter. Acadian Asset Management LLC now owns 656,738 shares of the company's stock worth $59,309,000 after buying an additional 330,133 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Weatherford International by 1,564.7% in 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 last quarter. 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.