Weatherford International (NASDAQ:WFRD) Hits New 1-Year High on Analyst Upgrade

Shares of Weatherford International plc (NASDAQ:WFRD) reached a new 52-week high on Monday after Benchmark raised their price target on the stock from $115.00 to $155.00. Benchmark currently has a buy rating on the stock. Weatherford International traded as high as $120.90 and last traded at $120.74, with a volume of 305173 shares changing hands. The stock had previously closed at $115.42.

WFRD has been the topic of a number of other research reports. Barclays started coverage on Weatherford International in a report on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 target price on the stock. TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Weatherford International has an average rating of “Buy” and a consensus price target of $121.56.

Insider Buying and Selling

In other Weatherford International news, Director Benjamin Duster sold 12,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the sale, the director now directly owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at $15,213,915.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Duster sold 12,000 shares of Weatherford International stock in a transaction on Monday, February 12th. The shares were sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the transaction, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,455 shares of company stock worth $13,628,764. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Weatherford International

Several hedge funds have recently made changes to their positions in WFRD. Geneos Wealth Management Inc. purchased a new position in shares of Weatherford International in the first quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new position in shares of Weatherford International in the second quarter valued at $25,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Weatherford International in the fourth quarter valued at $27,000. Parallel Advisors LLC grew its position in shares of Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after purchasing an additional 189 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Weatherford International in the first quarter valued at $28,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Stock Performance

The company has a market capitalization of $8.91 billion, a PE ratio of 21.82 and a beta of 0.73. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. The company has a 50-day moving average price of $104.89 and a two-hundred day moving average price of $97.26.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, February 6th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.42 by $0.48. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business earned $1.12 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. Analysts predict that Weatherford International plc will post 6.74 EPS for the current fiscal year.

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.