Weatherford International (NASDAQ:WFRD) Now Covered by Analysts at Melius Research

Key Points

• Analysts at Melius Research have initiated coverage of Weatherford International, assigning a "buy" rating and a price target of $108.00, indicating a potential upside of 93.53% from the current stock price.
• Weatherford's recent quarterly earnings report showed an EPS of $1.87, surpassing analysts' expectations by $0.90, despite a revenue decline of 14.3% year-over-year.
• The stock has received a mixed response from other analysts, with nine maintaining "buy" ratings and an average price target of $99.70.

Investment analysts at Melius Research started coverage on shares of Weatherford International (NASDAQ:WFRD - Get Free Report) in a report released on Wednesday,Benzinga reports. The firm set a "buy" rating and a $108.00 price target on the stock. Melius Research's price target would suggest a potential upside of 93.53% from the company's previous close.

Several other research firms have also recently commented on WFRD. Barclays cut their target price on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Raymond James Financial reissued an "outperform" rating and set a $70.00 price objective (up previously from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Citigroup decreased their price objective on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Melius started coverage on shares of Weatherford International in a research report on Wednesday. They issued a "buy" rating and a $108.00 price target on the stock. Finally, Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $99.70.

Weatherford International Stock Down 0.9%

WFRD traded down $0.5150 on Wednesday, reaching $55.8050. 103,997 shares of the company traded hands, compared to its average volume of 1,314,839. The stock's 50 day moving average price is $54.35 and its 200-day moving average price is $52.70. Weatherford International has a 52-week low of $36.74 and a 52-week high of $111.23. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 1.64 and a beta of 0.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WFRD. Raymond James Financial Inc. bought a new stake in Weatherford International in the fourth quarter valued at approximately $7,215,000. Barclays PLC boosted its holdings in Weatherford International by 83.3% in the fourth quarter. Barclays PLC now owns 57,454 shares of the company's stock valued at $4,114,000 after acquiring an additional 26,105 shares during the last quarter. Mariner LLC boosted its holdings in Weatherford International by 95.1% in the fourth quarter. Mariner LLC now owns 8,707 shares of the company's stock valued at $624,000 after acquiring an additional 4,245 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Weatherford International by 7.4% in the fourth quarter. MetLife Investment Management LLC now owns 44,124 shares of the company's stock valued at $3,161,000 after acquiring an additional 3,047 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Weatherford International by 282.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,556 shares of the company's stock valued at $684,000 after acquiring an additional 7,055 shares during the last quarter. 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.

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