Weatherford International (NASDAQ:WFRD) Earns Neutral Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of Weatherford International (NASDAQ:WFRD) in a report issued on Thursday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $87.00 price target on the stock. Piper Sandler’s price objective suggests a potential upside of 23.98% from the stock’s current price.

Several other brokerages also recently weighed in on WFRD. Evercore ISI cut their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America reduced their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Barclays lowered their price objective on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday. Benchmark reissued a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and lowered their price target for the company from $132.00 to $98.00 in a report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Weatherford International presently has a consensus rating of “Moderate Buy” and an average price target of $123.13.

Weatherford International Stock Performance

Weatherford International stock opened at $70.17 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 0.64 and a beta of 0.58. Weatherford International has a fifty-two week low of $69.30 and a fifty-two week high of $135.00. The stock has a fifty day moving average of $83.02 and a two-hundred day moving average of $99.47.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 EPS. On average, analysts anticipate that Weatherford International will post 6.85 EPS for the current fiscal year.

Insider Activity

In related news, CAO Desmond J. Mills sold 6,531 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the transaction, the chief accounting officer now owns 11,680 shares in the company, valued at $932,764.80. The trade was a 35.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

A number of hedge funds have recently added to or reduced their stakes in WFRD. Raymond James & Associates increased its holdings in shares of Weatherford International by 25.7% during the second quarter. Raymond James & Associates now owns 97,101 shares of the company’s stock valued at $11,890,000 after purchasing an additional 19,853 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Weatherford International by 31.0% in the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after buying an additional 85 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Weatherford International during the 2nd quarter worth approximately $253,000. Calamos Advisors LLC grew its holdings in shares of Weatherford International by 2.9% during the second quarter. Calamos Advisors LLC now owns 27,432 shares of the company’s stock valued at $3,359,000 after buying an additional 786 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Weatherford International by 187.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 46,559 shares of the company’s stock valued at $5,701,000 after acquiring an additional 30,338 shares in the last quarter. 97.23% of the stock is currently 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.