Bank of America Increases Weatherford International (NASDAQ:WFRD) Price Target to $145.00

Weatherford International (NASDAQ:WFRD) had its price target raised by research analysts at Bank of America from $135.00 to $145.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 17.29% from the company’s current price.

A number of other analysts also recently issued reports on the stock. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Raymond James upped their price target on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. Evercore ISI upped their price target on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a report on Wednesday, April 24th. Finally, Piper Sandler upped their price target on shares of Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $145.00.

Weatherford International Stock Performance

NASDAQ WFRD opened at $123.62 on Monday. 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 $9.04 billion, a P/E ratio of 20.00, a P/E/G ratio of 0.99 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 $114.87 and a two-hundred day moving average price of $101.29.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.97 EPS. Analysts anticipate that Weatherford International will post 6.93 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Weatherford International news, 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 value of $1,234,700.00. Following the completion of the transaction, the director now directly owns 32,729 shares in the company, valued at approximately $4,041,049.63. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $4,001,404.05. Following the completion of the transaction, the executive vice president now owns 125,019 shares of the company’s stock, valued at $12,365,629.29. 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.

Hedge Funds Weigh In On Weatherford International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. acquired a new position in Weatherford International in the 4th quarter valued at approximately $27,000. Parallel Advisors LLC increased its position in shares of Weatherford International by 189.0% during the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after buying an additional 189 shares during the period. Quadrant Capital Group LLC increased its position in shares of Weatherford International by 539.1% during the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after buying an additional 248 shares during the period. Huntington National Bank acquired a new stake in shares of Weatherford International during the third quarter worth $30,000. Finally, CWM LLC increased its position in shares of Weatherford International by 145.7% during the fourth quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after buying an additional 185 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

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.