Weatherford International (NASDAQ:WFRD) Given New $135.00 Price Target at Bank of America

Weatherford International (NASDAQ:WFRD) had its target price upped by Bank of America from $123.00 to $135.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

WFRD has been the subject of a number of other research reports. Benchmark upped their price objective on Weatherford International from $115.00 to $155.00 and gave the stock a buy rating in a research note on Monday, April 1st. Piper Sandler increased their price target on Weatherford International from $138.00 to $180.00 and gave the company an overweight rating in a research note on Monday, April 8th. TheStreet raised Weatherford International from a c rating to a b rating in a research note on Monday, March 11th. Finally, Barclays started coverage on Weatherford International in a research note on Wednesday, February 28th. They set an overweight rating and a $135.00 price target for the company. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Buy and an average price target of $131.00.

Weatherford International Stock Performance

NASDAQ WFRD opened at $110.93 on Monday. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 0.90 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. The business has a 50-day moving average price of $111.26 and a 200-day moving average price of $99.41. Weatherford International has a twelve month low of $55.81 and a twelve month high of $127.45.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data 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 firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 earnings per share. As a group, equities research analysts predict that Weatherford International will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 18,211 shares in the company, valued at $1,785,406.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 sale, the chief accounting officer now directly owns 18,211 shares in the company, valued at $1,785,406.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at $15,213,915.15. The disclosure for this sale can be found here. Insiders have sold a total of 135,455 shares of company stock worth $13,628,764 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently modified their holdings of WFRD. Price T Rowe Associates Inc. MD lifted its stake in shares of Weatherford International by 309.4% during the 4th 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 last quarter. Van ECK Associates Corp bought a new stake in shares of Weatherford International during the 3rd quarter worth approximately $114,430,000. State Street Corp lifted its stake in shares of Weatherford International by 317.1% during the 2nd quarter. State Street Corp now owns 1,571,745 shares of the company’s stock worth $33,274,000 after acquiring an additional 1,194,930 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Weatherford International by 465.6% during the 4th quarter. Millennium Management LLC now owns 1,143,602 shares of the company’s stock worth $58,232,000 after acquiring an additional 941,426 shares during the last quarter. Finally, Norges Bank bought a new stake in Weatherford International during the 4th quarter valued at $89,762,000. 97.23% of the stock is owned by institutional investors.

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.