Weatherford International (NASDAQ:WFRD) Raised to Strong-Buy at Zacks Research

Weatherford International (NASDAQ:WFRD) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other brokerages have also commented on WFRD. UBS Group lifted their price target on shares of Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Piper Sandler lifted their price target on shares of Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Citigroup lifted their price target on shares of Weatherford International from $134.00 to $137.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Barclays lifted their price target on shares of Weatherford International from $111.00 to $156.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings lowered shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.67.

Weatherford International Stock Down 2.2%

NASDAQ:WFRD opened at $97.85 on Monday. The firm has a market cap of $7.04 billion, a P/E ratio of 15.31, a P/E/G ratio of 0.90 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. Weatherford International has a fifty-two week low of $46.20 and a fifty-two week high of $113.15. The firm has a 50-day simple moving average of $104.17 and a two-hundred day simple moving average of $94.68.

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

Hedge Funds Weigh In On Weatherford International

A number of institutional investors and hedge funds have recently made changes to their positions in the business. TD Private Client Wealth LLC boosted its holdings in shares of Weatherford International by 4.2% in the fourth quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock worth $252,000 after buying an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Weatherford International by 24.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock worth $55,000 after buying an additional 137 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Weatherford International by 3.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock worth $385,000 after buying an additional 146 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Weatherford International by 4.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,851 shares of the company’s stock worth $364,000 after buying an additional 151 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Weatherford International by 2.3% in the fourth quarter. CWM LLC now owns 7,711 shares of the company’s stock worth $603,000 after buying an additional 170 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.