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

Weatherford International (NASDAQ:WFRD) had its price objective raised by Barclays from $135.00 to $160.00 in a research note published on Friday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts also recently commented on WFRD. TheStreet raised shares of Weatherford International from a c rating to a b rating in a research report on Monday, March 11th. Bank of America raised their price target on Weatherford International from $123.00 to $135.00 and gave the company a buy rating in a research report on Monday, April 15th. Benchmark reaffirmed a buy rating and issued a $155.00 price target on shares of Weatherford International in a research report on Wednesday, April 24th. Piper Sandler raised their price target on Weatherford International from $180.00 to $184.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Finally, Evercore ISI raised their price target on Weatherford International from $130.00 to $151.00 and gave the company an outperform rating in a research report on Thursday, April 25th. Seven investment 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 stock has an average rating of Buy and a consensus target price of $145.00.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $129.25 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. Weatherford International has a 1 year low of $55.81 and a 1 year high of $129.70. The business has a fifty day simple moving average of $114.41 and a 200 day simple moving average of $101.09. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 0.99 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. The firm had revenue of $1.36 billion for 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 quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. As a group, sell-side analysts predict that Weatherford International will post 6.93 earnings per share for the current fiscal year.

Insider Activity at Weatherford International

In related news, Director Charles M. Sledge sold 10,000 shares of the stock in a transaction dated 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 sale, the director now owns 32,729 shares in the company, valued at $4,041,049.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the completion of the transaction, the chief accounting officer now owns 18,211 shares in the company, valued at $1,785,406.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles M. Sledge sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the transaction, the director now owns 32,729 shares of the company’s stock, valued at approximately $4,041,049.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,455 shares of company stock worth $14,863,464. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Weatherford International by 1.6% in the third quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company’s stock valued at $703,254,000 after acquiring an additional 120,401 shares during the last quarter. Boston Partners raised its stake in shares of Weatherford International by 3.5% in the fourth quarter. Boston Partners now owns 2,282,581 shares of the company’s stock valued at $223,127,000 after acquiring an additional 76,872 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Weatherford International by 4.8% in the third quarter. Bank of New York Mellon Corp now owns 1,646,650 shares of the company’s stock valued at $148,742,000 after acquiring an additional 76,058 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Weatherford International by 5.2% in the third quarter. American Century Companies Inc. now owns 1,340,602 shares of the company’s stock valued at $121,097,000 after acquiring an additional 65,935 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Weatherford International by 17.6% in the fourth quarter. Jennison Associates LLC now owns 1,284,626 shares of the company’s stock valued at $125,675,000 after acquiring an additional 191,855 shares during 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.