Weatherford International (NASDAQ:WFRD) Hits New 12-Month High on Analyst Upgrade

Weatherford International plc (NASDAQ:WFRD)’s share price hit a new 52-week high during trading on Friday after Barclays raised their price target on the stock from $135.00 to $160.00. Barclays currently has an overweight rating on the stock. Weatherford International traded as high as $129.70 and last traded at $128.69, with a volume of 737496 shares traded. The stock had previously closed at $123.65.

Several other analysts have also issued reports on WFRD. Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a report on Wednesday. Raymond James increased their price objective on Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Bank of America raised their target price on Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Piper Sandler raised their target price on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a report on Thursday. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $136.89.

Insider Transactions at Weatherford International

In related news, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $98.91, for a total transaction of $4,001,404.05. Following the sale, the executive vice president now directly owns 125,019 shares of the company’s stock, valued at $12,365,629.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of Weatherford International stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at $15,213,915.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott C. Weatherholt sold 40,455 shares of Weatherford International 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 sale, the executive vice president now directly owns 125,019 shares in the company, valued at $12,365,629.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,455 shares of company stock worth $13,628,764. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors have recently added to or reduced their stakes in WFRD. AE Wealth Management LLC acquired a new stake in Weatherford International during the third quarter valued at approximately $243,000. SG Americas Securities LLC boosted its holdings in Weatherford International by 30.4% during the third quarter. SG Americas Securities LLC now owns 6,385 shares of the company’s stock valued at $577,000 after purchasing an additional 1,487 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Weatherford International in the 3rd quarter worth approximately $773,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Weatherford International in the 3rd quarter worth approximately $297,000. Finally, Bfsg LLC acquired a new position in shares of Weatherford International in the 3rd quarter worth approximately $973,000. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Stock Up 3.3 %

The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 0.99 and a beta of 0.73. The company has a current ratio of 2.72, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The firm 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 announced its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. Weatherford International had a return on equity of 52.88% and a net margin of 8.61%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned $0.97 EPS. Weatherford International’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Weatherford International plc will post 6.73 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.