Weatherford International plc (NASDAQ:WFRD) Given Average Recommendation of "Buy" by Brokerages

Shares of Weatherford International plc (NASDAQ:WFRD - Get Free Report) have received an average rating of "Buy" from the eight analysts that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $126.56.

WFRD has been the topic of a number of recent research reports. Benchmark boosted their price objective on Weatherford International from $115.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, April 1st. Barclays initiated coverage on Weatherford International in a research note on Wednesday, February 28th. They set an "overweight" rating and a $135.00 price objective on the stock. TheStreet raised Weatherford International from a "c" rating to a "b" rating in a research note on Monday, March 11th. Finally, Piper Sandler boosted their price objective on Weatherford International from $138.00 to $180.00 and gave the stock an "overweight" rating in a research note on Monday.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, 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 value of $6,214,200.00. Following the sale, the chief executive officer now owns 146,895 shares in the company, valued at $15,213,915.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Scott C. Weatherholt sold 40,455 shares of the business's stock in a transaction 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 owns 125,019 shares in the company, valued at approximately $12,365,629.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Girish Saligram sold 60,000 shares of the business'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 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. Insiders have sold 135,455 shares of company stock worth $13,628,764 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weatherford International

Institutional investors and hedge funds have recently modified their holdings of the company. Huntington National Bank purchased a new stake in Weatherford International during the 3rd quarter worth about $30,000. SG Americas Securities LLC increased its holdings in Weatherford International by 287.1% during the 4th quarter. SG Americas Securities LLC now owns 24,715 shares of the company's stock worth $2,418,000 after purchasing an additional 18,330 shares during the period. Principal Financial Group Inc. increased its holdings in Weatherford International by 1,564.7% during the 3rd quarter. Principal Financial Group Inc. now owns 281,174 shares of the company's stock worth $25,398,000 after purchasing an additional 264,284 shares during the period. First Hawaiian Bank purchased a new stake in Weatherford International during the 3rd quarter worth about $738,000. Finally, Los Angeles Capital Management LLC increased its holdings in Weatherford International by 58.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 30,863 shares of the company's stock worth $2,788,000 after purchasing an additional 11,420 shares during the period. Hedge funds and other institutional investors own 97.23% of the company's stock.

Weatherford International Price Performance

Shares of NASDAQ:WFRD traded up $0.82 during trading on Wednesday, reaching $121.83. The stock had a trading volume of 986,716 shares, compared to its average volume of 831,544. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.37 and a current ratio of 1.79. The business has a fifty day moving average price of $108.24 and a 200-day moving average price of $98.50. The stock has a market cap of $8.81 billion, a PE ratio of 21.56 and a beta of 0.73. Weatherford International has a 1-year low of $55.81 and a 1-year high of $127.45.

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

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.