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

Weatherford International (NASDAQ:WFRD) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

WFRD has been the subject of a number of other reports. Wall Street Zen cut shares of Weatherford International from a “strong-buy” rating to a “buy” rating in a research note on Monday. Royal Bank Of Canada initiated coverage on shares of Weatherford International in a research note on Wednesday. They set an “outperform” rating and a $105.00 target price on the stock. Barclays dropped their target price on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Piper Sandler raised their price target on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Finally, UBS Group boosted their price objective on Weatherford International from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Weatherford International presently has an average rating of “Moderate Buy” and a consensus target price of $98.33.

Weatherford International Stock Up 0.1%

WFRD stock opened at $86.48 on Monday. The business’s 50-day moving average price is $94.92 and its 200-day moving average price is $79.63. The stock has a market cap of $6.20 billion, a P/E ratio of 14.58 and a beta of 0.78. The company has a quick ratio of 1.65, a current ratio of 2.19 and a debt-to-equity ratio of 0.86. Weatherford International has a twelve month low of $36.74 and a twelve month high of $110.57.

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

Insider Buying and Selling at Weatherford International

In related news, CEO Girish Saligram sold 100,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $105.50, for a total transaction of $10,550,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.09% of the company’s stock.

Institutional Trading of Weatherford International

Several hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Weatherford International by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Weatherford International during the third quarter valued at about $26,000. Los Angeles Capital Management LLC bought a new stake in shares of Weatherford International in the fourth quarter worth about $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Weatherford International in the second quarter worth about $27,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after buying an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

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.