Weatherford International (NASDAQ:WFRD) Price Target Raised to $156.00

Key Points

• Barclays raised its price target on Weatherford to $156 (from $111) with an "overweight" rating, implying roughly a 51.8% upside from the prior close.
• Weatherford beat quarterly estimates, reporting EPS of $1.49 versus $1.02 expected and revenue of $1.15B, with strong profitability metrics including a 28.31% ROE and a 9.49% net margin.
• Consensus among analysts is a Moderate Buy with an average target of $110.33 after several target hikes; the stock trades around $102.76 (market cap ≈ $7.39B, PE ~16.1).

Weatherford International (NASDAQ:WFRD - Get Free Report) had its price target boosted by investment analysts at Barclays from $111.00 to $156.00 in a report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective suggests a potential upside of 51.82% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Citigroup upped their price objective on shares of Weatherford International from $115.00 to $134.00 and gave the company a "buy" rating in a research note on Monday. The Goldman Sachs Group upped their target price on shares of Weatherford International from $83.00 to $107.00 and gave the company a "neutral" rating in a research report on Wednesday, March 4th. UBS Group increased their target price on shares of Weatherford International from $105.00 to $113.00 and gave the stock a "neutral" rating in a research note on Thursday, April 23rd. Royal Bank Of Canada began coverage on shares of Weatherford International in a research note on Wednesday, March 18th. They issued an "outperform" rating and a $105.00 price target on the stock. Finally, Weiss Ratings lowered shares of Weatherford International from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, April 24th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $110.33.

Weatherford International Price Performance

Shares of NASDAQ:WFRD traded up $0.46 during trading on Friday, reaching $102.76. The stock had a trading volume of 276,683 shares, compared to its average volume of 1,336,161. The business has a fifty day moving average price of $97.95 and a 200-day moving average price of $88.17. Weatherford International has a 1-year low of $42.75 and a 1-year high of $112.31. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. The stock has a market cap of $7.39 billion, a PE ratio of 16.07, a PEG ratio of 1.29 and a beta of 0.87.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.47. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $1.03 EPS. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities analysts forecast that Weatherford International will post 5.97 earnings per share for the current fiscal year.

Institutional Trading of Weatherford International

A number of large investors have recently made changes to their positions in WFRD. Smartleaf Asset Management LLC raised its holdings in shares of Weatherford International by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company's stock valued at $25,000 after purchasing an additional 178 shares in the last quarter. Quent Capital LLC purchased a new position in Weatherford International in the third quarter valued at $26,000. Los Angeles Capital Management LLC acquired a new stake in Weatherford International in the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC raised its stake in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company's stock valued at $28,000 after buying an additional 253 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in Weatherford International during the 4th quarter worth about $39,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Company Profile

Weatherford International NASDAQ: WFRD is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.