Brokerages Set Weatherford International plc (NASDAQ:WFRD) Price Target at $145.00

Shares of Weatherford International plc (NASDAQ:WFRD) have earned an average recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $145.00.

Several equities research analysts recently commented on WFRD shares. Evercore ISI lifted their price target on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. TheStreet raised Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Raymond James upped 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. Piper Sandler raised their price objective on shares of Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Wednesday, April 24th.

Insider Activity at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,785,406.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Benjamin Duster sold 12,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $96.98, for a total transaction of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares of the company’s stock, valued at approximately $1,241,440.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the business’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 owns 18,211 shares of the company’s stock, valued at $1,785,406.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,455 shares of company stock valued at $14,863,464. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Weatherford International by 1.6% during the third quarter. Vanguard Group Inc. now owns 7,785,384 shares of the company’s stock worth $703,254,000 after purchasing an additional 120,401 shares in the last quarter. Boston Partners lifted its position in shares of 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 in the last quarter. Bank of New York Mellon Corp increased its stake in Weatherford International by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,646,650 shares of the company’s stock worth $148,742,000 after buying an additional 76,058 shares during the period. American Century Companies Inc. boosted its position in Weatherford International by 5.2% in the 3rd quarter. American Century Companies Inc. now owns 1,340,602 shares of the company’s stock valued at $121,097,000 after buying an additional 65,935 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Weatherford International by 17.6% during 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 in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Down 0.1 %

NASDAQ WFRD opened at $124.51 on Friday. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 0.88 and a beta of 0.71. Weatherford International has a one year low of $55.81 and a one year high of $129.70. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a 50 day simple moving average of $116.20 and a 200-day simple moving average of $102.04.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $0.97 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts anticipate that Weatherford International will post 6.94 EPS for the current fiscal year.

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.