Weatherford International (NASDAQ:WFRD) Upgraded by Wall Street Zen to Strong-Buy Rating

Weatherford International (NASDAQ:WFRD) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Sunday.

Other research analysts have also recently issued research reports about the stock. Citigroup boosted their price target on shares of Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Piper Sandler raised their price objective on shares of Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Zacks Research downgraded shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a report on Wednesday, January 21st. Finally, Barclays dropped their price target on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Weatherford International presently has an average rating of “Moderate Buy” and a consensus price target of $97.50.

Weatherford International Price Performance

NASDAQ:WFRD opened at $90.80 on Friday. Weatherford International has a one year low of $36.74 and a one year high of $110.57. The stock has a market cap of $6.51 billion, a PE ratio of 15.31 and a beta of 0.78. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.65 and a current ratio of 2.19. The stock has a 50 day moving average price of $93.96 and a 200 day moving average price of $78.10.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.49. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities research analysts expect that Weatherford International will post 5.89 EPS for the current fiscal year.

Insider Transactions at Weatherford International

In related news, CEO Girish Saligram sold 100,000 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $105.50, for a total value of $10,550,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.09% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors have recently made changes to their positions in WFRD. Royal Bank of Canada lifted its holdings in shares of Weatherford International by 223.0% in the 1st quarter. Royal Bank of Canada now owns 122,662 shares of the company’s stock worth $6,568,000 after acquiring an additional 84,684 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Weatherford International by 129.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 143,703 shares of the company’s stock valued at $7,695,000 after purchasing an additional 81,046 shares during the last quarter. United Services Automobile Association purchased a new stake in Weatherford International in the first quarter valued at approximately $258,000. Fox Run Management L.L.C. acquired a new position in Weatherford International during the second quarter worth $406,000. Finally, Monaco Asset Management SAM lifted its stake in Weatherford International by 242.1% during the second quarter. Monaco Asset Management SAM now owns 65,000 shares of the company’s stock worth $3,270,000 after purchasing an additional 46,000 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

About Weatherford International

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.