UBS Group Issues Positive Forecast for Weatherford International (NASDAQ:WFRD) Stock Price
by Michael Walen · The Markets DailyWeatherford International (NASDAQ:WFRD – Get Free Report) had its target price upped by equities research analysts at UBS Group from $94.00 to $105.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 11.02% from the stock’s current price.
WFRD has been the topic of several other research reports. The Goldman Sachs Group upped their price objective on Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, January 21st. Barclays lowered their target price on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Royal Bank Of Canada began coverage on shares of Weatherford International in a report on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 price target on the stock. Finally, Zacks Research upgraded shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Weatherford International has an average rating of “Moderate Buy” and an average price target of $99.56.
Get Our Latest Stock Report on Weatherford International
Weatherford International Trading Up 2.1%
Shares of WFRD stock traded up $1.96 during trading hours on Tuesday, reaching $94.58. 1,316,026 shares of the stock were exchanged, compared to its average volume of 1,367,913. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 15.95 and a beta of 0.78. Weatherford International has a 12-month low of $36.74 and a 12-month high of $110.57. The company’s 50-day moving average price is $95.91 and its 200-day moving average price is $81.41. The company has a current ratio of 2.19, a quick ratio of 1.65 and a debt-to-equity ratio of 0.86.
Weatherford International (NASDAQ:WFRD – Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.49. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. Weatherford International had a net margin of 8.76% and a return on equity of 28.07%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.50 EPS. As a group, equities analysts anticipate that Weatherford International will post 5.89 earnings per share for the current year.
Insider Activity
In other news, CEO Girish Saligram sold 100,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $105.50, for a total transaction of $10,550,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.
Institutional Investors Weigh In On Weatherford International
Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its holdings in Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Weatherford International during the 4th quarter valued at $26,000. Quent Capital LLC acquired a new stake in shares of Weatherford International in the 3rd quarter worth $26,000. Leonteq Securities AG acquired a new stake in shares of Weatherford International in the 4th quarter worth $39,000. Finally, Sound Income Strategies LLC purchased a new position in Weatherford International during the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.
Weatherford International Company Profile
Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.
In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.