Weatherford International (NASDAQ:WFRD) Trading Up 1.6%

Weatherford International plc (NASDAQ:WFRDGet Rating)’s stock price was up 1.6% during mid-day trading on Tuesday . The company traded as high as $32.70 and last traded at $32.47. Approximately 18,214 shares were traded during trading, a decline of 96% from the average daily volume of 461,599 shares. The stock had previously closed at $31.95.

Analyst Ratings Changes

A number of analysts recently issued reports on WFRD shares. Deutsche Bank Aktiengesellschaft started coverage on Weatherford International in a research report on Wednesday, June 8th. They set a “buy” rating and a $49.00 price objective for the company. Evercore ISI reissued an “outperform” rating and set a $53.00 price objective on shares of Weatherford International in a research report on Tuesday, September 6th. Finally, The Goldman Sachs Group cut their price objective on Weatherford International from $43.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Weatherford International currently has a consensus rating of “Buy” and a consensus target price of $45.00.

Weatherford International Price Performance

The company has a debt-to-equity ratio of 4.82, a current ratio of 2.18 and a quick ratio of 1.66. The firm has a 50-day simple moving average of $23.93 and a two-hundred day simple moving average of $28.83.

Weatherford International (NASDAQ:WFRDGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.11) earnings per share (EPS) for the quarter. The company had revenue of $1.06 billion during the quarter. Weatherford International had a negative net margin of 8.44% and a negative return on equity of 26.60%. On average, sell-side analysts forecast that Weatherford International plc will post -0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weatherford International

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Walleye Capital LLC boosted its stake in shares of Weatherford International by 47.5% in the 2nd quarter. Walleye Capital LLC now owns 48,936 shares of the company’s stock valued at $1,036,000 after buying an additional 15,760 shares during the period. Goldman Sachs Group Inc. lifted its stake in Weatherford International by 108.1% during the second quarter. Goldman Sachs Group Inc. now owns 587,118 shares of the company’s stock worth $12,430,000 after purchasing an additional 305,031 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Weatherford International by 68.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 24,544 shares of the company’s stock worth $520,000 after purchasing an additional 9,944 shares during the last quarter. Penn Capital Management Company LLC lifted its stake in Weatherford International by 35.4% during the second quarter. Penn Capital Management Company LLC now owns 804,526 shares of the company’s stock worth $17,246,000 after purchasing an additional 210,180 shares during the last quarter. Finally, CSS LLC IL lifted its stake in Weatherford International by 196.7% during the second quarter. CSS LLC IL now owns 55,808 shares of the company’s stock worth $1,181,000 after purchasing an additional 37,000 shares during the last quarter. Hedge funds and other institutional investors own 94.13% of the company’s stock.

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.

Featured Stories

Receive News & Ratings for Weatherford International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weatherford International and related companies with MarketBeat.com's FREE daily email newsletter.