Piper Sandler Boosts Weatherford International (NASDAQ:WFRD) Price Target to $180.00

Weatherford International (NASDAQ:WFRD) had its price target upped by Piper Sandler from $138.00 to $180.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. Barclays assumed coverage on Weatherford International in a report on Wednesday, February 28th. They issued an overweight rating and a $135.00 price objective on the stock. TheStreet raised Weatherford International from a c rating to a b rating in a research note on Monday, March 11th. Finally, Benchmark increased their price target on Weatherford International from $115.00 to $155.00 and gave the stock a buy rating in a report on Monday, April 1st. Seven 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 MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $126.56.

Weatherford International Stock Down 0.9 %

Shares of WFRD opened at $120.68 on Monday. Weatherford International has a 52-week low of $55.81 and a 52-week high of $127.45. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. The stock has a fifty day simple moving average of $108.90 and a two-hundred day simple moving average of $98.65. The company has a market capitalization of $8.73 billion, a PE ratio of 21.36 and a beta of 0.73.

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 analysts’ consensus estimates of $1.42 by $0.48. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. Weatherford International’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. As a group, equities analysts forecast that Weatherford International will post 6.74 EPS for the current year.

Insider Activity

In related news, CAO Desmond J. Mills sold 11,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the transaction, the chief accounting officer now owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the sale, the chief executive officer now directly owns 146,895 shares in the company, valued at approximately $15,213,915.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was 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 of the company’s stock, valued at approximately $1,785,406.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,455 shares of company stock valued at $13,628,764. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Weatherford International

Hedge funds have recently modified their holdings of the stock. Huntington National Bank purchased a new stake in Weatherford International during the 3rd quarter worth about $30,000. SG Americas Securities LLC raised its holdings in Weatherford International by 287.1% in the fourth quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock valued at $2,418,000 after acquiring an additional 18,330 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Weatherford International by 1,564.7% in the third quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock worth $25,398,000 after acquiring an additional 264,284 shares during the last quarter. First Hawaiian Bank acquired a new position in Weatherford International during the 3rd quarter worth approximately $738,000. Finally, Los Angeles Capital Management LLC grew its holdings in Weatherford International by 58.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 30,863 shares of the company’s stock worth $2,788,000 after acquiring an additional 11,420 shares in the last quarter. 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.