Weatherford International (NASDAQ:WFRD) Stock Rating Lowered by Wall Street Zen

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

Several other analysts have also issued reports on the stock. UBS Group raised their price target on shares of Weatherford International from $82.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Citigroup lifted their target price on Weatherford International from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Piper Sandler boosted their price target on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Barclays reduced their price objective on Weatherford International from $111.00 to $109.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.25.

Weatherford International Stock Performance

Shares of NASDAQ WFRD opened at $105.46 on Friday. Weatherford International has a 12 month low of $36.74 and a 12 month high of $108.14. The company has a market cap of $7.56 billion, a P/E ratio of 17.78 and a beta of 0.78. The business’s 50 day moving average is $92.20 and its two-hundred day moving average is $76.84. The company has a quick ratio of 1.65, a current ratio of 2.19 and a debt-to-equity ratio of 0.86.

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

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP Kristin Ruzicka sold 2,129 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $77.25, for a total value of $164,465.25. Following the sale, the executive vice president directly owned 15,673 shares in the company, valued at $1,210,739.25. This represents a 11.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Girish Saligram sold 100,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $105.50, for a total value of $10,550,000.00. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WFRD. Capital Research Global Investors increased its holdings in shares of Weatherford International by 1.8% during the third quarter. Capital Research Global Investors now owns 5,673,603 shares of the company’s stock worth $388,245,000 after buying an additional 98,663 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Weatherford International by 5.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,156,773 shares of the company’s stock worth $403,571,000 after acquiring an additional 281,984 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Weatherford International by 3.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,928,226 shares of the company’s stock valued at $150,903,000 after purchasing an additional 66,553 shares in the last quarter. Holocene Advisors LP raised its position in Weatherford International by 712.8% in the 2nd 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 during the last quarter. Finally, First Trust Advisors LP raised its position in Weatherford International by 43.5% in the 3rd quarter. First Trust Advisors LP now owns 1,572,422 shares of the company’s stock valued at $107,601,000 after purchasing an additional 476,575 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

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.