Weatherford International (NASDAQ:WFRD) Rating Lowered to “Buy” at Wall Street Zen

Weatherford International (NASDAQ:WFRD) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

WFRD has been the subject of a number of other research reports. The Goldman Sachs Group upped their price objective on shares of Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. Zacks Research cut Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, January 21st. Piper Sandler upped their price target on Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Finally, UBS Group increased their price target on Weatherford International from $82.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.50.

Weatherford International Price Performance

Shares of NASDAQ WFRD opened at $86.53 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.19 and a quick ratio of 1.65. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 14.59 and a beta of 0.78. The firm’s 50 day simple moving average is $95.02 and its 200-day simple moving average is $79.26. Weatherford International has a 12 month low of $36.74 and a 12 month high of $110.57.

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

Insiders Place Their Bets

In other Weatherford International news, CEO Girish Saligram sold 100,000 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $105.50, for a total value of $10,550,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WFRD. TD Private Client Wealth LLC increased its position in Weatherford International by 4.2% during the fourth quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock worth $252,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Weatherford International by 24.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock valued at $55,000 after purchasing an additional 137 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Weatherford International by 3.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock valued at $385,000 after purchasing an additional 146 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Weatherford International by 3.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,662 shares of the company’s stock valued at $319,000 after buying an additional 167 shares during the period. Finally, CWM LLC grew its stake in shares of Weatherford International by 2.3% in the 4th quarter. CWM LLC now owns 7,711 shares of the company’s stock valued at $603,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Company Profile

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.