Benchmark Reaffirms "Buy" Rating for Weatherford International (NASDAQ:WFRD)

Weatherford International (NASDAQ:WFRD - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Benchmark in a note issued to investors on Thursday, Benzinga reports. They currently have a $155.00 target price on the stock. Benchmark's price objective would suggest a potential upside of 100.49% from the stock's previous close.

A number of other analysts have also recently weighed in on the stock. Raymond James reduced their target price on shares of Weatherford International from $161.00 to $158.00 and set a "strong-buy" rating for the company in a report on Thursday, July 25th. Barclays cut their price objective on Weatherford International from $165.00 to $154.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Citigroup dropped their target price on shares of Weatherford International from $155.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Finally, Bank of America decreased their price objective on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $145.75.

Weatherford International Price Performance

WFRD traded down $3.85 during trading on Thursday, reaching $77.31. The stock had a trading volume of 1,448,815 shares, compared to its average volume of 907,037. Weatherford International has a 1-year low of $77.29 and a 1-year high of $135.00. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. The stock has a 50 day moving average of $94.51 and a two-hundred day moving average of $110.39. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 49.11%. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same period in the previous year, the business earned $1.66 earnings per share. Weatherford International's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Weatherford International will post 6.56 EPS for the current fiscal year.

Insider Activity at Weatherford International

In related news, EVP David John Reed sold 6,805 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weatherford International

Several institutional investors and hedge funds have recently added to or reduced their stakes in WFRD. PNC Financial Services Group Inc. raised its position in shares of Weatherford International by 86.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the company's stock valued at $132,000 after purchasing an additional 628 shares during the period. Ballentine Partners LLC acquired a new position in Weatherford International in the 1st quarter valued at $253,000. Diversified Trust Co raised its holdings in Weatherford International by 6.0% in the 1st quarter. Diversified Trust Co now owns 13,695 shares of the company's stock worth $1,581,000 after acquiring an additional 778 shares during the period. Oliver Luxxe Assets LLC lifted its position in Weatherford International by 1.1% during the 1st quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company's stock worth $1,307,000 after acquiring an additional 125 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Weatherford International by 669.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company's stock valued at $1,872,000 after acquiring an additional 14,112 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

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.