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

Weatherford International (NASDAQ:WFRD - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Raymond James Financial in a research note issued on Thursday,Benzinga reports. They presently have a $70.00 price target on the stock, up from their previous price target of $69.00. Raymond James Financial's price target points to a potential upside of 18.70% from the company's current price.

Several other research firms have also recently issued reports on WFRD. Piper Sandler lowered their price objective 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 reduced their price target on Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Citigroup reduced their price target on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.63.

Weatherford International Price Performance

Shares of WFRD stock traded up $2.11 during mid-day trading on Thursday, hitting $58.97. 1,186,306 shares of the stock were exchanged, compared to its average volume of 1,379,231. The firm has a fifty day moving average of $50.98 and a 200 day moving average of $54.14. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03. Weatherford International has a 52-week low of $36.74 and a 52-week high of $121.69. The company has a market cap of $4.24 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.76.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.90. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. Weatherford International's quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 earnings per share. Research analysts anticipate that Weatherford International will post 5.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WFRD. HighTower Advisors LLC raised its stake in Weatherford International by 16.7% in the 4th quarter. HighTower Advisors LLC now owns 8,676 shares of the company's stock valued at $621,000 after purchasing an additional 1,243 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Weatherford International by 123.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 9,484 shares of the company's stock valued at $679,000 after buying an additional 5,239 shares during the period. American Century Companies Inc. grew its holdings in Weatherford International by 29.4% in the 4th quarter. American Century Companies Inc. now owns 280,510 shares of the company's stock valued at $20,093,000 after buying an additional 63,775 shares during the period. Sei Investments Co. grew its holdings in Weatherford International by 4.7% in the 4th quarter. Sei Investments Co. now owns 95,587 shares of the company's stock valued at $6,847,000 after buying an additional 4,325 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Weatherford International in the 4th quarter valued at about $1,067,000. Institutional investors and hedge funds 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.