Weatherford International (NASDAQ:WFRD) Sets New 52-Week High at $130.00

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup started coverage on shares of Weatherford International in a research report on Tuesday, May 14th. They issued a “buy” rating and a $155.00 target price for the company. Evercore ISI lifted their price target on shares of Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Benchmark restated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a report on Wednesday, April 24th. Raymond James lifted their target price on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 16th. Finally, Piper Sandler upped their price target on shares of Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $151.88.

Weatherford International Trading Up 1.3 %

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.84 and a quick ratio of 1.37. The firm’s 50 day moving average price is $119.51 and its 200 day moving average price is $110.81. The stock has a market capitalization of $9.35 billion, a P/E ratio of 20.86, a P/E/G ratio of 0.88 and a beta of 0.64.

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

Insider Activity at Weatherford International

In related news, Director Charles M. Sledge sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were 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 in the company, valued at $4,041,049.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Weatherford International

Institutional investors have recently bought and sold shares of the business. Xponance Inc. grew its position in shares of Weatherford International by 1.1% during the fourth quarter. Xponance Inc. now owns 10,532 shares of the company’s stock worth $1,030,000 after purchasing an additional 116 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Weatherford International by 8.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company’s stock valued at $188,000 after buying an additional 120 shares during the last quarter. Oliver Luxxe Assets LLC lifted its holdings in shares of Weatherford International by 1.1% in the first quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock worth $1,307,000 after buying an additional 125 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Weatherford International by 50.4% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $47,000 after purchasing an additional 128 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Weatherford International by 3.2% during the 4th quarter. Mackenzie Financial Corp now owns 4,497 shares of the company’s stock valued at $440,000 after buying an additional 140 shares in the last quarter. Hedge funds and other 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.