Weatherford International plc (NASDAQ:WFRD) Receives Average Rating of “Buy” from Brokerages

Posted by on Aug 29th, 2023

Shares of Weatherford International plc (NASDAQ:WFRD – Get Free Report) have received an average rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $92.86.

WFRD has been the subject of a number of recent research reports. Capital One Financial initiated coverage on shares of Weatherford International in a report on Wednesday, June 7th. They issued an “overweight” rating and a $100.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Weatherford International from $82.00 to $101.00 and gave the company a “buy” rating in a report on Friday, August 4th. Piper Sandler increased their price objective on shares of Weatherford International from $101.00 to $116.00 in a report on Thursday, July 27th. TheStreet upgraded shares of Weatherford International from a “c” rating to a “b-” rating in a report on Monday, July 31st. Finally, Raymond James increased their price objective on shares of Weatherford International from $100.00 to $110.00 in a report on Friday, July 28th.

Check Out Our Latest Stock Analysis on WFRD

Institutional Investors Weigh In On Weatherford International

A number of hedge funds have recently added to or reduced their stakes in WFRD. Boston Partners lifted its holdings in Weatherford International by 449.1% during the 2nd quarter. Boston Partners now owns 2,226,804 shares of the company’s stock worth $148,895,000 after buying an additional 1,821,266 shares in the last quarter. State Street Corp raised its holdings in shares of Weatherford International by 317.1% in the 2nd quarter. State Street Corp now owns 1,571,745 shares of the company’s stock valued at $33,274,000 after purchasing an additional 1,194,930 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Weatherford International by 465.6% in the 4th quarter. Millennium Management LLC now owns 1,143,602 shares of the company’s stock valued at $58,232,000 after purchasing an additional 941,426 shares in the last quarter. Merewether Investment Management LP acquired a new stake in shares of Weatherford International in the 4th quarter valued at $40,991,000. Finally, Jennison Associates LLC raised its holdings in shares of Weatherford International by 558.9% in the 2nd quarter. Jennison Associates LLC now owns 853,965 shares of the company’s stock valued at $56,720,000 after purchasing an additional 724,358 shares in the last quarter. 90.66% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Stock Up 1.8 %

WFRD opened at $86.22 on Tuesday. Weatherford International has a twelve month low of $26.08 and a twelve month high of $88.32. The company has a quick ratio of 1.52, a current ratio of 2.03 and a debt-to-equity ratio of 2.97. The company has a 50-day moving average price of $76.67 and a 200 day moving average price of $66.69. The company has a market cap of $6.21 billion, a PE ratio of 24.85 and a beta of 0.90.

Weatherford International (NASDAQ:WFRD – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.11). Weatherford International had a return on equity of 46.47% and a net margin of 5.30%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. Sell-side analysts expect that Weatherford International will post 4.7 earnings per share for the current fiscal year.

Weatherford International Company Profile

(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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Analyst Recommendations for Weatherford International (NASDAQ:WFRD)

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