Weatherford International (NASDAQ:WFRD) Upgraded at Zacks Investment Research

Weatherford International (NASDAQ:WFRDGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Weatherford International Public Limited Company provides oil field services and equipment. The Company offers drilling solutions, gas well unloading, restoration and other related activities. Weatherford International Public Limited Company is based in TX, United States. “

Shares of Weatherford International stock traded down $0.54 on Tuesday, hitting $34.58. The stock had a trading volume of 1,409 shares, compared to its average volume of 453,948. Weatherford International has a twelve month low of $10.16 and a twelve month high of $40.16. The company has a 50 day moving average price of $33.38. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 4.87.

Weatherford International (NASDAQ:WFRDGet Rating) last posted its earnings results on Wednesday, February 16th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.05. The firm had revenue of $965.00 million during the quarter, compared to analyst estimates of $961.00 million. As a group, equities research analysts predict that Weatherford International will post -1.33 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. LPL Financial LLC increased its holdings in shares of Weatherford International by 3.3% during the third quarter. LPL Financial LLC now owns 15,769 shares of the company’s stock valued at $310,000 after acquiring an additional 501 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Weatherford International by 3.9% during the third quarter. Goldman Sachs Group Inc. now owns 15,625 shares of the company’s stock worth $307,000 after buying an additional 585 shares in the last quarter. Wolverine Trading LLC grew its holdings in Weatherford International by 4.1% during the third quarter. Wolverine Trading LLC now owns 19,610 shares of the company’s stock worth $387,000 after buying an additional 767 shares in the last quarter. Citigroup Inc. bought a new stake in Weatherford International during the fourth quarter worth $36,000. Finally, Wells Fargo & Company MN bought a new stake in Weatherford International during the second quarter worth $32,000. Institutional investors and hedge funds own 81.51% of the company’s stock.

Weatherford International Company Profile (Get Rating)

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 in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing, cementing, and coiled-tubing intervention; and drill stem test tools, surface well testing, and multiphase flow measurement services.

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