Weatherford International (NASDAQ:WFRD) PT Raised to $155.00

Weatherford International (NASDAQ:WFRD) had its target price increased by Benchmark from $115.00 to $155.00 in a research note published on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the company. Barclays started coverage on Weatherford International in a research report on Wednesday, February 28th. They set an overweight rating and a $135.00 price target on the stock. TheStreet upgraded Weatherford International from a c rating to a b rating in a research report on Monday, March 11th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Buy and a consensus target price of $121.56.

Weatherford International Trading Up 2.5 %

Shares of NASDAQ WFRD opened at $126.41 on Monday. The stock’s 50 day moving average price is $105.48 and its two-hundred day moving average price is $97.47. Weatherford International has a 52-week low of $55.81 and a 52-week high of $127.45. The stock has a market capitalization of $9.14 billion, a P/E ratio of 22.37 and a beta of 0.73. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.48. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Weatherford International’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, analysts anticipate that Weatherford International will post 6.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Desmond J. Mills sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total value of $1,078,440.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the completion of the transaction, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $98.04, for a total value of $1,078,440.00. Following the transaction, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The disclosure for this sale can be found here. Insiders sold 135,455 shares of company stock valued at $13,628,764 in the last three months. 2.20% of the stock is currently 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 company. Huntington National Bank bought a new position in Weatherford International during the 3rd quarter valued at $30,000. SG Americas Securities LLC boosted its stake in Weatherford International by 287.1% during the 4th quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock valued at $2,418,000 after purchasing an additional 18,330 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Weatherford International by 1,564.7% during the 3rd quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock valued at $25,398,000 after purchasing an additional 264,284 shares in the last quarter. First Hawaiian Bank bought a new position in Weatherford International during the 3rd quarter valued at $738,000. Finally, Los Angeles Capital Management LLC lifted its position in shares of Weatherford International by 58.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 30,863 shares of the company’s stock valued at $2,788,000 after acquiring an additional 11,420 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.