Barclays Increases Weatherford International (NASDAQ:WFRD) Price Target to $160.00

Weatherford International (NASDAQ:WFRD) had its price objective upped by analysts at Barclays from $135.00 to $160.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 29.11% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler increased their price objective on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America raised their target price on Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Raymond James upped their price objective on Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Finally, Benchmark reissued a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Wednesday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $136.89.

Weatherford International Trading Up 0.2 %

WFRD stock traded up $0.28 during mid-day trading on Friday, reaching $123.93. 89,649 shares of the stock traded hands, compared to its average volume of 820,561. The stock’s fifty day moving average is $113.33 and its 200-day moving average is $100.50. The company has a market cap of $8.96 billion, a P/E ratio of 20.02, a P/E/G ratio of 0.99 and a beta of 0.73. The company has a current ratio of 2.72, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. Weatherford International has a 52-week low of $55.81 and a 52-week high of $127.45.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. As a group, sell-side analysts expect that Weatherford International will post 6.73 earnings per share for the current year.

Insider Transactions at Weatherford International

In related news, Director Benjamin Duster sold 12,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the sale, the director now owns 12,801 shares of the company’s stock, valued at approximately $1,241,440.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Benjamin Duster sold 12,000 shares of Weatherford International stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the sale, the director now directly owns 12,801 shares in the company, valued at $1,241,440.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Girish Saligram sold 60,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total value of $6,214,200.00. Following the sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. Insiders have sold 135,455 shares of company stock valued at $13,628,764 over the last ninety days. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in Weatherford International in the fourth quarter worth approximately $27,000. Parallel Advisors LLC grew its stake in Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares in the last quarter. Rise Advisors LLC bought a new position in Weatherford International in the first quarter worth approximately $34,000. Quadrant Capital Group LLC grew its stake in Weatherford International by 539.1% in the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after purchasing an additional 248 shares in the last quarter. Finally, CWM LLC grew its stake in Weatherford International by 145.7% in the fourth quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

About Weatherford International

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.