Weatherford International (NASDAQ:WFRD) Now Covered by Analysts at Piper Sandler

Stock analysts at Piper Sandler began coverage on shares of Weatherford International (NASDAQ:WFRD - Get Free Report) in a note issued to investors on Thursday, MarketBeat.com reports. The firm set a "neutral" rating and a $87.00 price target on the stock. Piper Sandler's price objective points to a potential upside of 26.90% from the stock's current price.

A number of other brokerages also recently issued reports on WFRD. Citigroup cut their price objective on shares of Weatherford International from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Benchmark reaffirmed a "buy" rating and issued a $155.00 price objective on shares of Weatherford International in a research note on Thursday, October 24th. Barclays cut their price objective on Weatherford International from $147.00 to $105.00 and set an "overweight" rating for the company in a research note on Wednesday. Bank of America decreased their target price on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Finally, Evercore ISI dropped their price target on shares of Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $123.13.

Weatherford International Stock Performance

Weatherford International stock traded down $1.30 during midday trading on Thursday, reaching $68.56. 1,209,299 shares of the company traded hands, compared to its average volume of 901,138. Weatherford International has a 12 month low of $68.33 and a 12 month high of $135.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The business has a 50 day moving average of $82.51 and a two-hundred day moving average of $99.25. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 46.25% and a net margin of 9.65%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. Weatherford International's revenue was up 7.3% compared to the same quarter last year. As a group, research analysts predict that Weatherford International will post 6.85 earnings per share for the current year.

Insider Buying and Selling

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction on Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the transaction, the chief accounting officer now directly owns 11,680 shares of the company's stock, valued at $932,764.80. This trade represents a 35.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by company insiders.

Institutional Trading of Weatherford International

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in Weatherford International by 364.9% during the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company's stock worth $30,000 after buying an additional 281 shares during the period. nVerses Capital LLC purchased a new position in shares of Weatherford International during the 3rd quarter worth about $34,000. Millburn Ridgefield Corp bought a new position in Weatherford International during the 3rd quarter valued at about $42,000. Fifth Third Bancorp raised its position in Weatherford International by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company's stock worth $44,000 after purchasing an additional 85 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Weatherford International by 36.9% in the third quarter. GAMMA Investing LLC now owns 523 shares of the company's stock worth $44,000 after purchasing an additional 141 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

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.