Weatherford International (NASDAQ:WFRD) Rating Lowered to Buy at Wall Street Zen

Weatherford International (NASDAQ:WFRD) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

WFRD has been the subject of a number of other research reports. Citigroup upped their price objective on shares of Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 13th. Barclays reduced their price target on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Piper Sandler raised their target price on Weatherford International from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. The Goldman Sachs Group increased their price target on Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Finally, UBS Group boosted their price objective on shares of Weatherford International from $82.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

Weatherford International Trading Up 0.5%

WFRD opened at $105.46 on Friday. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of 17.78 and a beta of 0.79. The company’s 50 day simple moving average is $92.20 and its two-hundred day simple moving average is $76.57. Weatherford International has a 1-year low of $36.74 and a 1-year high of $108.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.19 and a quick ratio of 1.65.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.49. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 earnings per share. Analysts expect that Weatherford International will post 5.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Weatherford International news, EVP Kristin Ruzicka sold 2,129 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $77.25, for a total transaction of $164,465.25. Following the sale, the executive vice president owned 15,673 shares in the company, valued at $1,210,739.25. This represents a 11.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Girish Saligram sold 100,000 shares of Weatherford International stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $105.50, for a total value of $10,550,000.00. The disclosure for this sale is available in the SEC filing. 2.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of Weatherford International by 127.1% in 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. Quent Capital LLC acquired a new stake in Weatherford International in the third quarter valued at $26,000. Los Angeles Capital Management LLC purchased a new stake in Weatherford International during the 4th quarter worth about $26,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Weatherford International during the 2nd quarter worth about $27,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Weatherford International by 83.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares during the last quarter. Hedge funds and other institutional investors 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.