Barclays Increases Weatherford International (NASDAQ:WFRD) Price Target to $111.00

Weatherford International (NASDAQ:WFRD) had its price target lifted by stock analysts at Barclays from $81.00 to $111.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 45.36% from the stock’s current price.

WFRD has been the topic of a number of other reports. UBS Group assumed coverage on Weatherford International in a research note on Tuesday, December 2nd. They set a “neutral” rating and a $82.00 price objective on the stock. Melius began coverage on Weatherford International in a report on Wednesday, August 20th. They set a “buy” rating and a $108.00 target price for the company. BMO Capital Markets began coverage on shares of Weatherford International in a report on Friday, October 10th. They issued an “outperform” rating and a $82.00 price target on the stock. Piper Sandler raised their price objective on shares of Weatherford International from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Finally, Melius Research began coverage on shares of Weatherford International in a report on Wednesday, August 20th. They set a “buy” rating and a $108.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.20.

Weatherford International Stock Performance

Shares of WFRD traded up $0.13 during trading hours on Wednesday, hitting $76.36. The company’s stock had a trading volume of 427,335 shares, compared to its average volume of 1,155,455. The business has a 50 day simple moving average of $72.01 and a two-hundred day simple moving average of $62.64. Weatherford International has a 52-week low of $36.74 and a 52-week high of $82.26. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 13.85 and a beta of 0.79.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.03). Weatherford International had a return on equity of 28.28% and a net margin of 8.15%.The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $2.06 earnings per share. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. On average, equities analysts expect that Weatherford International will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Weatherford International news, EVP Kristin Ruzicka sold 2,129 shares of Weatherford International stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $77.25, for a total transaction of $164,465.25. Following the completion of the sale, the executive vice president directly owned 15,673 shares in the company, valued at $1,210,739.25. The trade was a 11.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.09% of the stock is owned by corporate insiders.

Institutional Trading of Weatherford International

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quent Capital LLC bought a new position in Weatherford International in the third quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Weatherford International in the 2nd quarter worth about $27,000. EverSource Wealth Advisors LLC increased its position in shares of Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after purchasing an additional 253 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Weatherford International by 69.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock valued at $29,000 after buying an additional 240 shares in the last quarter. Finally, American National Bank & Trust lifted its position in Weatherford International by 2,392.0% in the 2nd quarter. American National Bank & Trust now owns 623 shares of the company’s stock worth $31,000 after buying an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

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.