Weatherford International (NASDAQ:WFRD) Earns "Outperform" Rating from Raymond James Financial

Weatherford International (NASDAQ:WFRD - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Raymond James Financial in a report released on Thursday,Benzinga reports. They presently have a $70.00 target price on the stock, up from their prior target price of $69.00. Raymond James Financial's price objective suggests a potential upside of 22.13% from the stock's current price.

Several other brokerages have also issued reports on WFRD. Piper Sandler dropped their target price on Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Barclays dropped their target price on Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Citigroup dropped their target price on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $96.25.

Weatherford International Price Performance

Shares of WFRD stock traded down $1.06 during trading hours on Thursday, hitting $57.32. The stock had a trading volume of 1,070,935 shares, compared to its average volume of 1,378,073. Weatherford International has a one year low of $36.74 and a one year high of $123.04. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.08 and a quick ratio of 1.52. The stock's 50-day moving average price is $50.62 and its two-hundred day moving average price is $54.62. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.78 and a beta of 0.76.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Weatherford International had a return on equity of 36.08% and a net margin of 9.35%. The firm's revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the business posted $1.66 earnings per share. Equities analysts forecast that Weatherford International will post 5.89 EPS for the current year.

Hedge Funds Weigh In On Weatherford International

A number of large investors have recently bought and sold shares of the business. Huntington National Bank increased its position in shares of Weatherford International by 190.4% during the fourth quarter. Huntington National Bank now owns 392 shares of the company's stock worth $28,000 after purchasing an additional 257 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Weatherford International during the 4th quarter worth about $29,000. American National Bank & Trust boosted its stake in shares of Weatherford International by 2,392.0% during the 2nd quarter. American National Bank & Trust now owns 623 shares of the company's stock worth $31,000 after acquiring an additional 598 shares in the last quarter. Fifth Third Bancorp lifted its stake in Weatherford International by 546.7% in the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after buying an additional 503 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in Weatherford International by 30,600.0% in the 1st quarter. Brooklyn Investment Group now owns 614 shares of the company's stock valued at $33,000 after buying an additional 612 shares in the last quarter. Institutional investors own 97.23% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.