Weatherford International (NASDAQ:WFRD) Raised to Strong-Buy at 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.

Other research analysts have also recently issued research reports about the stock. UBS Group increased their target price on shares of Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Barclays increased their target price on shares of Weatherford International from $111.00 to $156.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. The Goldman Sachs Group increased their target price on shares of Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Citigroup upped their price objective on Weatherford International from $134.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Finally, Piper Sandler upped their price objective on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.67.

Weatherford International Stock Down 2.2%

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

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, equities research analysts anticipate that Weatherford International will post 6.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Amundi increased its position in Weatherford International by 89.8% during the 1st quarter. Amundi now owns 18,869 shares of the company’s stock valued at $1,785,000 after purchasing an additional 8,925 shares during the period. EverSource Wealth Advisors LLC increased its position in Weatherford International by 32.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $88,000 after purchasing an additional 231 shares during the period. California State Teachers Retirement System increased its position in Weatherford International by 22.4% during the 1st quarter. California State Teachers Retirement System now owns 83,567 shares of the company’s stock valued at $7,904,000 after purchasing an additional 15,294 shares during the period. Royal Bank of Canada increased its position in Weatherford International by 43.8% during the 1st quarter. Royal Bank of Canada now owns 60,324 shares of the company’s stock valued at $5,705,000 after purchasing an additional 18,384 shares during the period. Finally, Rokos Capital Management LLP acquired a new stake in Weatherford International during the 1st quarter valued at approximately $976,000. 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.