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

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

Other equities analysts also recently issued reports about the company. Zacks Research upgraded Weatherford International from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Citigroup reduced their price objective on Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Barclays increased their target price on Weatherford International from $111.00 to $156.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada started coverage on Weatherford International in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 target price on the stock. Finally, Weiss Ratings upgraded Weatherford International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Weatherford International has an average rating of “Moderate Buy” and a consensus target price of $108.22.

Weatherford International Price Performance

Shares of Weatherford International stock opened at $83.01 on Friday. Weatherford International has a twelve month low of $52.21 and a twelve month 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 company’s 50 day moving average is $100.46 and its 200 day moving average is $95.35. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.74 and a beta of 0.86.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47. The business had revenue of $1.15 billion during 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 firm’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. Research analysts anticipate that Weatherford International will post 6.13 EPS for the current year.

Hedge Funds Weigh In On Weatherford International

A number of institutional investors have recently bought and sold shares of WFRD. Capital Research Global Investors grew its holdings in Weatherford International by 1.8% during the third quarter. Capital Research Global Investors now owns 5,673,603 shares of the company’s stock valued at $388,245,000 after purchasing an additional 98,663 shares during the period. Price T Rowe Associates Inc. MD increased its position in Weatherford International by 5.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,156,773 shares of the company’s stock worth $403,571,000 after buying an additional 281,984 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Weatherford International by 3.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,928,226 shares of the company’s stock worth $150,903,000 after buying an additional 66,553 shares during the period. First Trust Advisors LP raised its stake in shares of Weatherford International by 12.4% in the first quarter. First Trust Advisors LP now owns 1,760,467 shares of the company’s stock worth $166,505,000 after buying an additional 194,654 shares during the period. Finally, Holocene Advisors LP lifted its position in shares of Weatherford International by 712.8% during the 2nd quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after buying an additional 1,443,512 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.