The Goldman Sachs Group Forecasts Strong Price Appreciation for Weatherford International (NASDAQ:WFRD) Stock

by · The Markets Daily

Weatherford International (NASDAQ:WFRD – Get Free Report) had its price objective raised by research analysts at The Goldman Sachs Group from $83.00 to $107.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 11.45% from the company’s current price.

Several other research analysts have also issued reports on WFRD. Piper Sandler boosted their target price on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Citigroup raised their price target on Weatherford International from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a report on Wednesday, January 21st. Wall Street Zen downgraded Weatherford International from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group lifted their target price on Weatherford International from $82.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Weatherford International currently has an average rating of “Moderate Buy” and a consensus price target of $97.50.

Get Our Latest Stock Report on Weatherford International

Weatherford International Trading Down 1.9%

WFRD stock traded down $1.83 during mid-day trading on Wednesday, reaching $96.00. 323,093 shares of the stock traded hands, compared to its average volume of 1,196,416. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.65 and a current ratio of 2.19. Weatherford International has a one year low of $36.74 and a one year high of $110.57. The stock has a market capitalization of $6.89 billion, a PE ratio of 16.17 and a beta of 0.78. The business has a 50-day moving average price of $93.02 and a two-hundred day moving average price of $77.47.

Weatherford International (NASDAQ:WFRD – Get Free Report) last released its earnings results on Tuesday, February 3rd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.49. The firm had revenue of $1.29 billion during 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 business’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business earned $1.50 EPS. Equities research analysts expect that Weatherford International will post 5.89 EPS for the current year.

Insiders Place Their Bets

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. Also, EVP Kristin Ruzicka sold 2,129 shares of Weatherford International stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $77.25, for a total value of $164,465.25. Following the completion of the sale, the executive vice president owned 15,673 shares of the company’s stock, valued at $1,210,739.25. The trade was a 11.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Weatherford International

Several hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC increased its holdings in Weatherford International by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock valued at $383,000 after buying an additional 146 shares during the period. Alberta Investment Management Corp boosted its position in Weatherford International by 57.1% during the 4th quarter. Alberta Investment Management Corp now owns 77,300 shares of the company’s stock valued at $6,049,000 after acquiring an additional 28,100 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Weatherford International by 4.7% in the 4th quarter. Vident Advisory LLC now owns 69,185 shares of the company’s stock valued at $5,414,000 after acquiring an additional 3,094 shares during the period. Mackenzie Financial Corp raised its position in shares of Weatherford International by 17.2% in the 4th quarter. Mackenzie Financial Corp now owns 93,139 shares of the company’s stock worth $7,356,000 after acquiring an additional 13,656 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in shares of Weatherford International by 3.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,928,226 shares of the company’s stock worth $150,903,000 after purchasing an additional 66,553 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

About Weatherford International

(Get Free Report)

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.

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