Weatherford International (NASDAQ:WFRD) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS Group raised its price target on Weatherford from $105 to $113 while keeping a "neutral" rating, implying about a 9.78% upside; the stock's consensus is a "Moderate Buy" with an average target of $103.22 and several firms have recently lifted targets (e.g., Citi, Goldman, RBC).
• Weatherford reported an EPS beat of $1.49 vs. $1.02 estimated on $1.15B revenue, and the shares traded at $102.93 with a market cap of $7.38B, a P/E of 16.11, and a 52-week range of $40.12–$110.57.
• CEO Girish Saligram sold 100,000 shares for about $10.55M; insiders own 2.09% of the company while institutional investors hold roughly 97.23%.

Weatherford International (NASDAQ:WFRD - Get Free Report) had its price objective hoisted by equities researchers at UBS Group from $105.00 to $113.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target indicates a potential upside of 9.78% from the company's previous close.

Other equities analysts have also issued reports about the stock. Wall Street Zen lowered shares of Weatherford International from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, April 1st. The Goldman Sachs Group raised their price objective 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. Weiss Ratings restated a "hold (c)" rating on shares of Weatherford International in a research report on Wednesday, January 21st. Royal Bank Of Canada assumed coverage on shares of Weatherford International in a research report on Wednesday, March 18th. They issued an "outperform" rating and a $105.00 price objective for the company. Finally, Citigroup raised their price objective on shares of Weatherford International from $93.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $103.22.

Weatherford International Stock Performance

NASDAQ:WFRD traded up $1.94 on Thursday, reaching $102.93. 2,152,935 shares of the company's stock were exchanged, compared to its average volume of 1,359,864. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.19 and a quick ratio of 1.65. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 1.25 and a beta of 0.83. Weatherford International has a 52 week low of $40.12 and a 52 week high of $110.57. The stock has a fifty day simple moving average of $97.23 and a 200-day simple moving average of $85.23.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its earnings results on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.47. Weatherford International had a net margin of 9.49% and a return on equity of 29.05%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $1.03 earnings per share. The company's quarterly revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts predict that Weatherford International will post 5.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Girish Saligram sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $105.50, for a total value of $10,550,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. 2.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Weatherford International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its stake in Weatherford International by 127.1% in the fourth 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 stake in Weatherford International in the third quarter valued at approximately $26,000. Los Angeles Capital Management LLC purchased a new stake in Weatherford International in the fourth quarter valued at approximately $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 purchasing an additional 253 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in Weatherford International in the third quarter valued at approximately $35,000. 97.23% of the stock is 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.

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