Piper Sandler Issues Pessimistic Forecast for Weatherford International (NASDAQ:WFRD) Stock Price

Weatherford International (NASDAQ:WFRD) had its price objective cut by investment analysts at Piper Sandler from $87.00 to $82.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 20.74% from the stock’s current price.

A number of other equities analysts have also recently issued reports on WFRD. Benchmark cut their price objective on shares of Weatherford International from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday. Evercore ISI dropped their price target 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. Bank of America dropped their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $132.00 to $98.00 in a research report on Friday, December 13th. Finally, Barclays reduced their price target on shares of Weatherford International from $147.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.25.

Weatherford International Trading Up 1.6 %

NASDAQ WFRD traded up $1.07 on Monday, reaching $67.92. The company had a trading volume of 131,226 shares, compared to its average volume of 1,250,644. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 1.48 and a beta of 0.60. Weatherford International has a fifty-two week low of $60.45 and a fifty-two week high of $135.00. The business has a 50 day moving average of $71.68 and a two-hundred day moving average of $85.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.80 and a quick ratio of 1.49.

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

Insiders Place Their Bets

In related news, EVP David John Reed sold 4,762 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $72.66, for a total transaction of $346,006.92. Following the transaction, the executive vice president now owns 11,109 shares in the company, valued at $807,179.94. The trade was a 30.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott C. Weatherholt sold 44,505 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the transaction, the executive vice president now owns 125,019 shares in the company, valued at $8,272,507.23. This represents a 26.25 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in Weatherford International by 36.7% in the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock worth $303,419,000 after purchasing an additional 959,783 shares during the period. State Street Corp grew its holdings in Weatherford International by 3.1% in the third quarter. State Street Corp now owns 2,267,484 shares of the company’s stock worth $192,555,000 after purchasing an additional 68,553 shares during the period. Pacer Advisors Inc. grew its holdings in Weatherford International by 551.1% in the third quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock worth $122,356,000 after purchasing an additional 1,219,553 shares during the period. Jennison Associates LLC grew its holdings in Weatherford International by 30.6% in the third quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock worth $112,443,000 after purchasing an additional 310,259 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Weatherford International by 28.6% in the fourth quarter. Van ECK Associates Corp now owns 917,530 shares of the company’s stock worth $65,723,000 after buying an additional 204,317 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

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.