According to The Fly, analysts at Piper Jaffray increased their price objective for Weatherford International (NASDAQ: WFRD) in a research report published on Friday by increasing it from $57.0 to $70.00. The company currently has an “overweight” rating attached to its stock. Additionally, Piper Sandler has a price objective for the stock that indicates an upside potential of 62.56% from where it is now trading.
WFRD has recently garnered the attention and enthusiasm of several reputable analysts. The target price that Deutsche Bank Aktiengesellschaft has set for Weatherford International has increased from $49.00 to $54.00 due to a research report published on Thursday, October 27th. Goldman Sachs Group increased their target price on Weatherford International shares from $38.00 to $53.00 and gave the company a “buy” rating in a research report published on Wednesday, November 2nd. Last but not least, Evercore I.S.I. reaffirmed an “outperform” rating and established a target price of $53.00 for the shares of Weatherford International in a research report released on Tuesday, September 6th. According to the data from Bloomberg, five financial analysts have suggested to investors that they should buy the company. The stock of Weatherford International is now rated as a “buy,” and the consensus price goal for the company is $55.20.
On Friday, the shares of Weatherford International were priced at $43.06 when they first traded. The company’s moving average over the past 50 days is $35.71, and its moving average over the past 200 days is $29.58. The one-year low for Weatherford International is $16.96, while the one-year high for the company is $44.57. The ratio of debt to equity is 5.01, the ratio of current assets to current liabilities is 2.21, and the ratio of quick assets to current liabilities is 1.69. The firm’s market capitalization is $3.04 billion, the price-to-earnings ratio is -14.50, and the beta value is 1.23.
The most recent quarterly earnings report for Weatherford International (NASDAQ: WFRD) was published on October 25th. The company announced earnings per share for the quarter of $0.40, which was $0.25 lower than the consensus estimate of $0.65. In addition, the net margin and return on equity for Weatherford International were both in the red, coming in at -13.58% and -5.06%, respectively. During the period in question, the business brought in total revenue of $1.12 billion. According to forecasts made by equity research analysts, Weatherford International will generate earnings of 0.3 cents per share in 2018.
Recent months have seen several significant investors shift their holdings of WFRD. During the first three months of the year, the State of New Jersey Common Pension Fund D spent $2,716,000 to acquire Weatherford International. The Healthcare of Ontario Pension Plan Trust Fund invested $3,397,000 in Weatherford International stock during the first quarter of the fiscal year. During the second quarter, Russell Investments Group Ltd. bought a new position in Weatherford International for $869,000 in stock. During the first three months of the year, Prescott Group Capital Management L.L.C. boosted the percentage of Weatherford International stock owned by 11.5%. As a result of the purchase of 20,000 additional shares during the most recent quarter, Prescott Group Capital Management L.L.C. now holds a total of 194,643 shares of the company’s stock, which has a market value of $6,482,000. Last but not least, during the first quarter, Walleye Capital L.L.C. shelled out $1,105,000 to acquire a new position at Weatherford International. The company’s stock is owned by institutional investors and hedge funds to 94.13% of the total.
Weatherford International plc is a worldwide energy service provider that operates in the oil and gas, geothermal, and natural gas industries. The company drills, assess, completes, produces, and intervenes in wells. The Western Hemisphere and the Eastern Hemisphere each comprise their distinct organization sector. It offers pressure pumping and reservoir stimulation services such as acidizing, fracturing, cementing, and coiled-tubing intervention, drill stem test tools, surface well testing, and multiphase flow measurement. Other lift systems it offers include reciprocating rods, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems.
Read More: WFRD Weatherford International PT (NASDAQ:WFRD) increased to $70.00