Weatherford International plc (NASDAQ:WFRD) Receives $126.56 Consensus Price Target from Analysts

Shares of Weatherford International plc (NASDAQ:WFRD) have been given an average recommendation of “Buy” by the eight analysts that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $131.00.

WFRD has been the topic of a number of recent research reports. Raymond James boosted their price objective on Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Barclays started coverage on shares of Weatherford International in a research report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price target on the stock. Bank of America raised their price objective on shares of Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday. TheStreet upgraded shares of Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Finally, Piper Sandler raised their price target on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, April 8th.

Insider Activity

In other 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 value of $4,001,404.05. Following the transaction, the executive vice president now directly owns 125,019 shares in the company, valued at approximately $12,365,629.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.91, for a total value of $4,001,404.05. Following the completion of the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Girish Saligram sold 60,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the transaction, the chief executive officer now directly owns 146,895 shares in the company, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,455 shares of company stock valued at $13,628,764. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Weatherford International by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company’s stock worth $703,254,000 after buying an additional 120,401 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Weatherford International by 309.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,226,900 shares of the company’s stock worth $609,179,000 after acquiring an additional 4,706,078 shares during the period. BlackRock Inc. raised its stake in shares of Weatherford International by 4.2% in the second quarter. BlackRock Inc. now owns 4,928,501 shares of the company’s stock valued at $327,351,000 after acquiring an additional 197,337 shares in the last quarter. Boston Partners boosted its holdings in 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 purchasing an additional 76,872 shares during the period. Finally, State Street Corp boosted its holdings in Weatherford International by 6.6% in the first quarter. State Street Corp now owns 1,792,295 shares of the company’s stock valued at $106,373,000 after purchasing an additional 111,712 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

WFRD opened at $113.71 on Wednesday. Weatherford International has a twelve month low of $55.81 and a twelve month high of $127.45. The firm has a market capitalization of $8.22 billion, a PE ratio of 20.13 and a beta of 0.73. The company has a current ratio of 1.79, a quick ratio of 1.37 and a debt-to-equity ratio of 1.86. The firm’s 50-day moving average price is $110.68 and its 200 day moving average price is $99.25.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.48. The business had revenue of $1.36 billion for 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%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $1.12 EPS. As a group, sell-side analysts expect that Weatherford International will post 6.74 EPS for the current fiscal year.

Weatherford International Company Profile

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.