Piper Sandler Cuts Weatherford International (NASDAQ:WFRD) Price Target to $82.00

Weatherford International (NASDAQ:WFRD - Get Free Report) had its price target lowered by Piper Sandler from $87.00 to $82.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price target would indicate a potential upside of 10.67% from the company's current price.

A number of other research analysts also recently weighed in on WFRD. Evercore ISI lowered their price objective on shares of Weatherford International from $149.00 to $142.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. The Goldman Sachs Group cut 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. Citigroup cut their price objective on Weatherford International from $110.00 to $95.00 and set a "buy" rating for the company in a report on Friday, December 20th. Barclays reduced their price objective on Weatherford International from $147.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, December 18th. Finally, Bank of America dropped their target price on Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $107.63.

Weatherford International Stock Up 9.6 %

Shares of Weatherford International stock traded up $6.46 on Monday, reaching $74.09. The company's stock had a trading volume of 1,586,041 shares, compared to its average volume of 1,287,039. Weatherford International has a 52 week low of $60.45 and a 52 week high of $135.00. The firm's fifty day simple moving average is $70.67 and its two-hundred day simple moving average is $85.04. The company has a quick ratio of 1.49, a current ratio of 2.80 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 1.48 and a beta of 0.60.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. Equities analysts anticipate that Weatherford International will post 6.14 earnings per share for the current year.

Insider Activity at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 19,425 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.51, for a total value of $1,311,381.75. Following the completion of the transaction, the chief accounting officer now directly owns 17,899 shares in the company, valued at $1,208,361.49. This represents a 52.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott C. Weatherholt sold 44,505 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the completion of the sale, the executive vice president now directly owns 125,019 shares of the company's stock, valued at approximately $8,272,507.23. This trade represents a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,692 shares of company stock worth $6,207,725. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Weatherford International

Several large investors have recently made changes to their positions in WFRD. Truist Financial Corp raised its stake in Weatherford International by 29.4% during the 2nd quarter. Truist Financial Corp now owns 4,481 shares of the company's stock valued at $549,000 after purchasing an additional 1,017 shares during the period. GAMMA Investing LLC raised its position in shares of Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company's stock valued at $44,000 after buying an additional 141 shares during the last quarter. CWM LLC lifted its holdings in shares of Weatherford International by 405.4% in the third quarter. CWM LLC now owns 2,790 shares of the company's stock worth $237,000 after buying an additional 2,238 shares in the last quarter. Oliver Luxxe Assets LLC lifted its holdings in shares of Weatherford International by 80.8% in the third quarter. Oliver Luxxe Assets LLC now owns 20,971 shares of the company's stock worth $1,781,000 after buying an additional 9,372 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Weatherford International during the third quarter worth $34,000. 97.23% of the stock is currently owned by hedge funds and other 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.