Weatherford International (NASDAQ:WFRD) Stock Rating Upgraded by Zacks Investment Research

Weatherford International (NASDAQ:WFRD – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, 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. “

NASDAQ WFRD traded up $0.30 during trading on Wednesday, reaching $31.86. 12,328 shares of the company traded hands, compared to its average volume of 486,668. The company has a debt-to-equity ratio of 5.67, a quick ratio of 1.70 and a current ratio of 2.22. The stock’s 50 day moving average price is $33.11 and its two-hundred day moving average price is $31.09. The company has a market cap of $2.25 billion and a price-to-earnings ratio of -5.39. Weatherford International has a 1-year low of $11.00 and a 1-year high of $40.16.

Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new position in shares of Weatherford International in the 1st quarter worth approximately $25,000. Wells Fargo & Company MN acquired a new position in shares of Weatherford International in the 2nd quarter worth approximately $32,000. Citigroup Inc. acquired a new position in shares of Weatherford International in the 4th quarter worth approximately $36,000. Morgan Stanley acquired a new position in shares of Weatherford International in the 2nd quarter worth approximately $102,000. Finally, Royal Bank of Canada boosted its holdings in shares of Weatherford International by 1,423.2% in the 3rd quarter. Royal Bank of Canada now owns 6,032 shares of the company’s stock worth $118,000 after acquiring an additional 5,636 shares in the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.

About Weatherford International (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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