Goldman Sachs raises price target for Weatherford International to $53.00

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Goldman Sachs Group has raised its price target for Weatherford International ($NASDAQ:WFRD) to $53.00. Weatherford International is a leading provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. Weatherford International has been under pressure in recent years due to the slump in oil prices.

However, the company has taken steps to restructure its business and reduce its debt. Goldman Sachs believes that these efforts will start to pay off in the form of higher profitability and cash flow. As a result, the investment bank has raised its price target for the stock.

Share Price

The move comes as media sentiment towards the company is mostly positive. On Friday, WEATHERFORD INTERNATIONAL stock opened at $43.0 and closed at $42.8, up by 1.2% from last closing price of 42.2. The company has been under pressure in recent months, but the Goldman Sachs price target increase is a sign that the investment bank is bullish on the company’s future prospects.

VI Analysis

Weatherford International is a medium risk investment in terms of financial and business aspects, according to the VI Risk Rating. The company has two risk warnings in its income sheet and balance sheet. However, the company’s fundamentals reflect its long-term potential.

VI Peers

The company competes with United Drilling Tools Ltd, Parker Drilling Co, and Northern Ocean Ltd.

– United Drilling Tools Ltd ($BSE:522014)

United Drilling Tools Ltd is a publicly traded company with a market cap of 6.21 billion as of 2022. The company has a return on equity of 14.87%. United Drilling Tools Ltd is engaged in the manufacturing and marketing of drilling tools and equipment for the oil and gas industry. The company’s products include drill bits, drilling rigs, and other drilling equipment. United Drilling Tools Ltd is headquartered in Houston, Texas.

– Parker Drilling Co ($OTCPK:PKDC)

The Parker Drilling Company is a publicly traded drilling contractor headquartered in Houston, Texas. Parker Drilling provides offshore drilling services to the energy industry around the world. The company operates a fleet of 34 drilling rigs in offshore and onshore environments in the United States, Latin America, Africa, the Middle East, and Asia Pacific. Parker Drilling is a member of the S&P MidCap 400 index and trades on the New York Stock Exchange under the ticker symbol “PKD.”

– Northern Ocean Ltd ($OTCPK:NTNOF)

North Ocean Ltd is a market leader in providing marine transportation and offshore drilling services. The company has a strong market position and a strong track record of delivering shareholder value. North Ocean has a market capitalization of 108.58M as of 2022 and a return on equity of -7.31%. The company’s core competencies are in providing offshore transportation and drilling services. North Ocean has a strong market position and a strong track record of delivering shareholder value. North Ocean is a market leader in providing marine transportation and offshore drilling services. The company has a strong market position and a strong track record of delivering shareholder value.

Summary

The company is involved in the exploration, production, and distribution of oil and gas, as well as providing services for drilling and completions. Weatherford is one of the world’s largest providers of oilfield services. Weatherford International has a long history of providing quality services to the oil and gas industry. The company has a strong reputation for safety and reliability, and has been consistently ranked as one of the top providers of oilfield services.

Weatherford International is a strong company with a long history of success. The company’s shares are a good investment for investors seeking exposure to the oil and gas industry.