Weatherford International (NASDAQ:WFRD) Rating Lowered to Hold at Zacks Research

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

WFRD has been the topic of a number of other research reports. Barclays lifted their target price on Weatherford International from $111.00 to $156.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Piper Sandler boosted their price objective on shares of Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Wall Street Zen lowered shares of Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. 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, Citigroup decreased their price objective on shares of Weatherford International from $137.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Weatherford International Stock Performance

Weatherford International stock opened at $81.81 on Tuesday. The firm has a 50 day simple moving average of $96.41 and a 200-day simple moving average of $95.73. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.86. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.31 and a quick ratio of 1.73. Weatherford International has a 1-year low of $52.33 and a 1-year high of $113.15.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, analysts expect that Weatherford International will post 6.07 EPS for the current year.

Institutional Investors Weigh In On Weatherford International

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its position in Weatherford International by 1,040.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,244,464 shares of the company’s stock valued at $97,392,000 after purchasing an additional 1,135,338 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of Weatherford International by 77.6% in the 4th quarter. Deprince Race & Zollo Inc. now owns 537,851 shares of the company’s stock valued at $42,092,000 after buying an additional 234,989 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of Weatherford International during the fourth quarter worth about $10,966,000. Massachusetts Financial Services Co. MA grew its position in shares of Weatherford International by 34.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 71,747 shares of the company’s stock worth $5,615,000 after buying an additional 18,224 shares in the last quarter. Finally, Horizon Investments LLC purchased a new stake in shares of Weatherford International during the fourth quarter worth approximately $1,389,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

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.