Evercore ISI Increases Weatherford International (NASDAQ:WFRD) Price Target to $151.00

Weatherford International (NASDAQ:WFRD) had its price objective upped by Evercore ISI from $130.00 to $151.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently issued reports on WFRD. Benchmark reissued a buy rating and set a $155.00 price objective on shares of Weatherford International in a research report on Wednesday. Raymond James increased their price target on shares of Weatherford International from $134.00 to $152.00 and gave the company a strong-buy rating in a research note on Tuesday, April 16th. Barclays began coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They issued an overweight rating and a $135.00 price target for the company. Piper Sandler increased their price target on shares of Weatherford International from $138.00 to $180.00 and gave the company an overweight rating in a research note on Monday, April 8th. Finally, Bank of America raised their target price on shares of Weatherford International from $123.00 to $135.00 and gave the stock a buy rating in a research note on Monday, April 15th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $136.89.

Weatherford International Price Performance

NASDAQ:WFRD traded up $2.41 on Thursday, reaching $126.06. The stock had a trading volume of 210,793 shares, compared to its average volume of 822,072. The company has a market capitalization of $9.12 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 0.99 and a beta of 0.73. Weatherford International has a 1-year low of $55.81 and a 1-year high of $127.45. The company has a quick ratio of 1.37, a current ratio of 2.72 and a debt-to-equity ratio of 1.48. The stock has a fifty day moving average price of $113.33 and a 200-day moving average price of $100.50.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Research analysts forecast that Weatherford International will post 6.73 EPS for the current year.

Insider Activity

In other news, CEO Girish Saligram sold 60,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were 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 approximately $15,213,915.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were 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 in the company, valued at $1,785,406.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Girish Saligram sold 60,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 146,895 shares of the company’s stock, 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. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Weatherford International

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Weatherford International by 1.6% during the third quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company’s stock valued at $703,254,000 after buying an additional 120,401 shares during the period. Boston Partners boosted its position in Weatherford International by 3.5% during the fourth quarter. Boston Partners now owns 2,282,581 shares of the company’s stock worth $223,127,000 after purchasing an additional 76,872 shares during the period. Bank of New York Mellon Corp boosted its position in Weatherford International by 4.8% during the third quarter. Bank of New York Mellon Corp now owns 1,646,650 shares of the company’s stock worth $148,742,000 after purchasing an additional 76,058 shares during the period. American Century Companies Inc. boosted its position in Weatherford International by 5.2% during the third quarter. American Century Companies Inc. now owns 1,340,602 shares of the company’s stock worth $121,097,000 after purchasing an additional 65,935 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Weatherford International by 17.6% in the fourth quarter. Jennison Associates LLC now owns 1,284,626 shares of the company’s stock valued at $125,675,000 after acquiring an additional 191,855 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

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.