Weatherford International (NASDAQ:WFRD) Sets New 12-Month High at $130.00

Weatherford International plc (NASDAQ:WFRD) shares hit a new 52-week high during trading on Friday . The company traded as high as $130.00 and last traded at $129.88, with a volume of 437996 shares trading hands. The stock had previously closed at $126.21.

Analysts Set New Price Targets

Several research firms recently weighed in on WFRD. Piper Sandler upped their price objective on shares of Weatherford International from $180.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research note on Wednesday, April 24th. Evercore ISI raised their price objective on shares of Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Barclays upped their target price on Weatherford International from $135.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, Raymond James boosted their price objective on Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 16th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Weatherford International currently has an average rating of “Buy” and a consensus price target of $151.88.

Weatherford International Trading Up 1.3 %

The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 1.48. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 0.88 and a beta of 0.64. The company has a 50-day moving average price of $119.51 and a 200 day moving average price of $110.81.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, research analysts anticipate that Weatherford International plc will post 6.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Weatherford International

In other news, Director Charles M. Sledge sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the completion of the sale, the director now directly owns 32,729 shares of the company’s stock, valued at approximately $4,041,049.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. McGlone Suttner Wealth Management Inc. bought a new stake in Weatherford International during the fourth quarter worth approximately $27,000. Parallel Advisors LLC boosted its holdings in shares of Weatherford International by 189.0% during the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after buying an additional 189 shares during the period. Quadrant Capital Group LLC grew its stake in Weatherford International by 539.1% in the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after buying an additional 248 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Weatherford International in the 1st quarter worth $29,000. Finally, CWM LLC lifted its position in Weatherford International by 145.7% during the 4th quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

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.