Weatherford International (NASDAQ:WFRD) Upgraded at Wall Street Zen

Weatherford International (NASDAQ:WFRD) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other equities research analysts have also recently weighed in on WFRD. Weiss Ratings cut Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Zacks Research cut Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Royal Bank Of Canada assumed coverage on Weatherford International in a research report on Wednesday, March 18th. They set an “outperform” rating and a $105.00 price target on the stock. Barclays upped their price target on Weatherford International from $111.00 to $156.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Piper Sandler upped their price target on Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $110.33.

Weatherford International Price Performance

NASDAQ WFRD opened at $103.64 on Friday. The company has a market cap of $7.45 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. Weatherford International has a 52 week low of $42.75 and a 52 week high of $113.15. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83. The firm’s 50-day simple moving average is $102.28 and its two-hundred day simple moving average is $92.13.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.02 by $0.47. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. Research analysts predict that Weatherford International will post 6.13 earnings per share for the current year.

Institutional Investors Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently bought and sold shares of WFRD. Holocene Advisors LP raised its stake in Weatherford International by 712.8% in the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after purchasing an additional 1,443,512 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Weatherford International by 1,040.4% in the fourth 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. Norges Bank purchased a new stake in Weatherford International in the fourth quarter valued at approximately $61,399,000. Barclays PLC raised its stake in Weatherford International by 1,096.6% in the fourth quarter. Barclays PLC now owns 855,752 shares of the company’s stock valued at $66,971,000 after purchasing an additional 784,237 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Weatherford International by 154.3% in the third quarter. Millennium Management LLC now owns 1,159,192 shares of the company’s stock valued at $79,324,000 after purchasing an additional 703,401 shares in the last quarter. 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.