Weatherford International (NASDAQ:WFRD) Downgraded by Wall Street Zen to Buy

Weatherford International (NASDAQ:WFRD) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

A number of other research firms have also weighed in on WFRD. Piper Sandler raised their target price on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. UBS Group increased their price target on Weatherford International from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, January 21st. Royal Bank Of Canada initiated coverage on shares of Weatherford International in a report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on shares of Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Weatherford International presently has an average rating of “Moderate Buy” and a consensus price target of $99.56.

Weatherford International Trading Up 2.1%

WFRD opened at $94.58 on Wednesday. Weatherford International has a fifty-two week low of $36.74 and a fifty-two week high of $110.57. The firm has a market capitalization of $6.78 billion, a PE ratio of 15.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.19 and a quick ratio of 1.65. The company’s 50-day moving average is $96.14 and its 200 day moving average is $81.64.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.49. The business had revenue of $1.29 billion during 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 company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 EPS. As a group, research analysts predict that Weatherford International will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WFRD. Smartleaf Asset Management LLC increased its holdings in shares of Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares during the period. Quent Capital LLC purchased a new position in Weatherford International during the third quarter worth about $26,000. Los Angeles Capital Management LLC purchased a new position in Weatherford International during the fourth quarter worth about $26,000. Elevation Point Wealth Partners LLC bought a new position in Weatherford International in the 2nd quarter worth about $27,000. Finally, EverSource Wealth Advisors LLC raised 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 in the last quarter. 97.23% of the stock is owned by 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.