Weatherford International (NASDAQ:WFRD) Reaches New 52-Week High at $109.64

Weatherford International plc (NASDAQ:WFRDGet Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $109.64 and last traded at $109.40, with a volume of 756872 shares changing hands. The stock had previously closed at $102.61.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TheStreet lowered Weatherford International from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. Barclays assumed coverage on Weatherford International in a research note on Wednesday. They issued an “overweight” rating and a $135.00 price target on the stock. The Goldman Sachs Group upped their target price on Weatherford International from $101.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Finally, Bank of America assumed coverage on Weatherford International in a research report on Friday, November 10th. They set a “buy” rating and a $120.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Weatherford International presently has a consensus rating of “Buy” and an average price target of $117.38.

Read Our Latest Report on WFRD

Weatherford International Trading Up 6.2 %

The firm has a fifty day simple moving average of $96.76 and a two-hundred day simple moving average of $93.51. The stock has a market cap of $7.88 billion, a PE ratio of 19.29 and a beta of 0.72. The company has a current ratio of 1.79, a quick ratio of 1.37 and a debt-to-equity ratio of 1.86.

Weatherford International (NASDAQ:WFRDGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share for the quarter, beating 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 firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm posted $1.12 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Weatherford International plc will post 6.74 earnings per share for the current fiscal year.

Insider Activity at Weatherford International

In related news, CAO Desmond J. Mills sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the transaction, the chief accounting officer now directly owns 18,211 shares in the company, valued at approximately $1,785,406.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Desmond J. Mills sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the transaction, the chief accounting officer now directly owns 18,211 shares in the company, valued at approximately $1,785,406.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 146,895 shares in the company, valued at $15,213,915.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,526 shares of company stock valued at $15,163,618. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WFRD. Price T Rowe Associates Inc. MD grew its stake in Weatherford International by 309.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,226,900 shares of the company’s stock worth $609,179,000 after purchasing an additional 4,706,078 shares during the period. Boston Partners grew its stake in Weatherford International by 449.1% in the second quarter. Boston Partners now owns 2,226,804 shares of the company’s stock worth $148,895,000 after purchasing an additional 1,821,266 shares during the period. Van ECK Associates Corp bought a new stake in Weatherford International in the third quarter worth $114,430,000. State Street Corp boosted its holdings in Weatherford International by 317.1% in the second quarter. State Street Corp now owns 1,571,745 shares of the company’s stock worth $33,274,000 after acquiring an additional 1,194,930 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Weatherford International by 465.6% in the fourth quarter. Millennium Management LLC now owns 1,143,602 shares of the company’s stock worth $58,232,000 after acquiring an additional 941,426 shares in the last quarter. 90.66% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

(Get Free Report)

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.

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