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

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

Several other brokerages have also issued reports on WFRD. Royal Bank Of Canada assumed coverage on shares of Weatherford International in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 price target for the company. Wall Street Zen raised shares of Weatherford International from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Citigroup lifted their price target on shares of Weatherford International from $134.00 to $137.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. UBS Group lifted their price target on shares of Weatherford International from $105.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.67.

Weatherford International Trading Down 2.2%

NASDAQ:WFRD opened at $97.85 on Monday. The company has a 50-day moving average price of $104.17 and a 200-day moving average price of $94.68. Weatherford International has a 12 month low of $46.20 and a 12 month high of $113.15. The company has a current ratio of 2.31, a quick ratio of 1.73 and a debt-to-equity ratio of 0.83. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.90 and a beta of 0.82.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.02 by $0.47. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company posted $1.03 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities analysts predict that Weatherford International will post 6.13 EPS for the current year.

Institutional Trading of Weatherford International

Institutional investors and hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in 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 in the last quarter. Los Angeles Capital Management LLC bought a new stake in Weatherford International during the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake in Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after purchasing an additional 253 shares in the last quarter. Leonteq Securities AG bought a new stake in Weatherford International during the 4th quarter valued at about $39,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Weatherford International during the 3rd quarter valued at about $41,000. 97.23% of the stock is currently owned by institutional investors.

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.