Weatherford International PLC (NASDAQ:WFRD) Receives $114.00 Average PT from Analysts

Weatherford International PLC (NASDAQ:WFRD) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $113.7778.

A number of analysts have commented on WFRD shares. Zacks Research downgraded Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Wall Street Zen lowered Weatherford International from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Barclays lowered their price objective on shares of Weatherford International from $156.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup decreased their price objective on Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Finally, Piper Sandler increased their target price on Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd.

Institutional Investors Weigh In On Weatherford International

Several large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Weatherford International during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after buying an additional 253 shares during the last quarter. Leonteq Securities AG acquired a new position in Weatherford International during the fourth quarter valued at approximately $39,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Weatherford International in the third quarter valued at $52,000. Institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Up 0.3%

Weatherford International stock opened at $80.70 on Tuesday. Weatherford International has a 52 week low of $52.59 and a 52 week high of $113.15. The firm has a market capitalization of $5.79 billion, a PE ratio of 12.63, a PEG ratio of 0.93 and a beta of 0.86. The business’s 50-day simple moving average is $95.54 and its 200-day simple moving average is $95.64. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.47. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business earned $1.03 earnings per share. Weatherford International’s revenue for the quarter was down 3.4% compared to the same quarter last year. Equities research analysts forecast that Weatherford International will post 5.94 earnings per share for the current year.

About Weatherford International

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.