UBS Group Initiates Coverage on Weatherford International (NASDAQ:WFRD)

Investment analysts at UBS Group initiated coverage on shares of Weatherford International (NASDAQ:WFRD) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm set a “neutral” rating and a $82.00 price target on the stock. UBS Group’s price target suggests a potential upside of 6.55% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Melius Research assumed coverage on Weatherford International in a report on Wednesday, August 20th. They set a “buy” rating and a $108.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, October 8th. Piper Sandler increased their price objective on Weatherford International from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. The Goldman Sachs Group raised their price objective on Weatherford International from $66.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, Zacks Research raised shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Weatherford International currently has a consensus rating of “Moderate Buy” and an average target price of $87.90.

Weatherford International Stock Up 3.7%

Shares of NASDAQ WFRD opened at $76.96 on Tuesday. The firm has a fifty day simple moving average of $69.98 and a two-hundred day simple moving average of $60.44. Weatherford International has a 12 month low of $36.74 and a 12 month high of $86.64. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $5.52 billion, a PE ratio of 13.94 and a beta of 0.79.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.03). Weatherford International had a net margin of 8.15% and a return on equity of 28.28%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $2.06 EPS. Weatherford International’s quarterly revenue was down 12.6% compared to the same quarter last year. Equities analysts expect that Weatherford International will post 5.89 earnings per share for the current year.

Institutional Trading of Weatherford International

Several large investors have recently modified their holdings of WFRD. Quent Capital LLC bought a new position in Weatherford International in the third quarter valued at about $26,000. Sound Income Strategies LLC bought a new stake in shares of Weatherford International during the 3rd quarter valued at about $35,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Weatherford International during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its position in shares of 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 during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Weatherford International by 69.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock worth $29,000 after purchasing an additional 240 shares during the period. Institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.