Benchmark Reiterates "Buy" Rating for Weatherford International (NASDAQ:WFRD)

Weatherford International (NASDAQ:WFRD - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Benchmark in a note issued to investors on Wednesday, Benzinga reports. They presently have a $155.00 price target on the stock. Benchmark's target price would suggest a potential upside of 23.99% from the company's previous close.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler lifted their price target on shares of Weatherford International from $138.00 to $180.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Raymond James lifted their price target on shares of Weatherford International from $134.00 to $152.00 and gave the company a "strong-buy" rating in a research report on Tuesday, April 16th. Bank of America lifted their price target on shares of Weatherford International from $123.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, April 15th. TheStreet raised shares of Weatherford International from a "c" rating to a "b" rating in a research report on Monday, March 11th. Finally, Barclays started coverage on shares of Weatherford International in a report on Wednesday, February 28th. They issued an "overweight" rating and a $135.00 target price for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Weatherford International currently has an average rating of "Buy" and an average price target of $131.00.

Weatherford International Trading Up 5.9 %

Shares of WFRD traded up $6.92 during trading hours on Wednesday, reaching $125.01. 1,482,474 shares of the company traded hands, compared to its average volume of 828,706. The company's fifty day moving average price is $112.35 and its two-hundred day moving average price is $100.16. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 0.91 and a beta of 0.73. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. Weatherford International has a 12 month low of $55.81 and a 12 month high of $127.45.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.09. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. 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 EPS. Weatherford International's revenue was up 14.5% on a year-over-year basis. Equities research analysts predict that Weatherford International will post 6.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Benjamin Duster sold 12,000 shares of Weatherford International stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the sale, the director now directly owns 12,801 shares in the company, valued at $1,241,440.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Desmond J. Mills sold 11,000 shares of Weatherford International stock in a transaction that occurred on Thursday, February 8th. The shares were 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 directly owns 18,211 shares in the company, valued at $1,785,406.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin Duster sold 12,000 shares of Weatherford International stock in a transaction that occurred 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 sale, the director now owns 12,801 shares of the company's stock, valued at $1,241,440.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,455 shares of company stock valued at $13,628,764. Insiders own 2.20% of the company's stock.

Institutional Trading of Weatherford International

Several large investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its position in Weatherford International by 23.6% during the third quarter. Parkside Financial Bank & Trust now owns 560 shares of the company's stock valued at $51,000 after buying an additional 107 shares during the period. Xponance Inc. boosted its position in shares of Weatherford International by 1.1% in the fourth quarter. Xponance Inc. now owns 10,532 shares of the company's stock worth $1,030,000 after purchasing an additional 116 shares during the period. Oliver Luxxe Assets LLC boosted its position in shares of Weatherford International by 1.1% in the first quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company's stock worth $1,307,000 after purchasing an additional 125 shares during the period. Mackenzie Financial Corp boosted its position in shares of Weatherford International by 3.2% in the fourth quarter. Mackenzie Financial Corp now owns 4,497 shares of the company's stock worth $440,000 after purchasing an additional 140 shares during the period. Finally, CWM LLC boosted its position in shares of Weatherford International by 145.7% in the fourth quarter. CWM LLC now owns 312 shares of the company's stock worth $31,000 after purchasing an additional 185 shares during the period. 97.23% of the stock is currently 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.