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

Weatherford International (NASDAQ:WFRD) had its price target boosted by research analysts at Barclays from $135.00 to $160.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 25.03% from the stock’s previous close.

Several other equities analysts have also recently commented on WFRD. Raymond James boosted their target price on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research report on Wednesday. TheStreet upgraded shares of Weatherford International from a “c” rating to a “b” rating in a research report on Monday, March 11th. Piper Sandler boosted their target price on shares of Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Evercore ISI upped their price objective on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Weatherford International presently has an average rating of “Buy” and a consensus price target of $143.75.

Weatherford International Stock Performance

NASDAQ WFRD opened at $127.97 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $9.36 billion, a P/E ratio of 20.71, a P/E/G ratio of 0.98 and a beta of 0.73. Weatherford International has a 12-month low of $55.81 and a 12-month high of $129.70. The firm has a 50-day moving average price of $113.86 and a two-hundred day moving average price of $100.80.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 EPS. Analysts anticipate that Weatherford International will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.91, for a total value of $4,001,404.05. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $12,365,629.29. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Weatherford International news, EVP Scott C. Weatherholt sold 40,455 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.91, for a total value of $4,001,404.05. Following the completion of the transaction, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $12,365,629.29. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles M. Sledge sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the completion of the transaction, the director now owns 32,729 shares of the company’s stock, valued at $4,041,049.63. The disclosure for this sale can be found here. Insiders sold a total of 145,455 shares of company stock worth $14,863,464 in the last three months. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors have recently modified their holdings of the company. Mesirow Financial Investment Management Inc. bought a new stake in shares of Weatherford International in the 1st quarter valued at $1,587,000. New York State Teachers Retirement System boosted its stake in shares of Weatherford International by 0.4% in the 1st quarter. New York State Teachers Retirement System now owns 74,968 shares of the company’s stock valued at $8,653,000 after purchasing an additional 292 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Weatherford International by 2.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 20,800 shares of the company’s stock valued at $2,401,000 after purchasing an additional 500 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Weatherford International by 14.5% in the 1st quarter. Raymond James & Associates now owns 77,248 shares of the company’s stock valued at $8,916,000 after purchasing an additional 9,799 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC boosted its stake in shares of Weatherford International by 6.3% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 4,022 shares of the company’s stock valued at $464,000 after purchasing an additional 238 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

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.