Weatherford International (NASDAQ:WFRD) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Weatherford International (NASDAQ:WFRD) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other analysts also recently weighed in on WFRD. Barclays increased their target price on shares of Weatherford International from $111.00 to $156.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Raymond James Financial decreased their price objective on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Piper Sandler lifted their target price 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. Royal Bank Of Canada initiated coverage on Weatherford International in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, UBS Group raised their target price on Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a research note 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. According to data from MarketBeat.com, Weatherford International has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Weatherford International Trading Down 0.2%

NASDAQ WFRD opened at $81.81 on Tuesday. The business’s 50-day moving average price is $96.41 and its two-hundred day moving average price is $95.73. Weatherford International has a 12 month low of $52.33 and a 12 month high of $113.15. The firm has a market capitalization of $5.87 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.86. The company has a current ratio of 2.31, a quick ratio of 1.73 and a debt-to-equity ratio of 0.83.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.The firm’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. On average, analysts expect that Weatherford International will post 6.07 EPS for the current 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 stock. Price T Rowe Associates Inc. MD increased its position in Weatherford International by 5.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,156,773 shares of the company’s stock valued at $403,571,000 after buying an additional 281,984 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in 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 valued at $150,903,000 after acquiring an additional 66,553 shares during the period. First Trust Advisors LP grew its stake in Weatherford International by 12.4% in the first quarter. First Trust Advisors LP now owns 1,760,467 shares of the company’s stock valued at $166,505,000 after acquiring an additional 194,654 shares during the period. Holocene Advisors LP increased its holdings in shares of Weatherford International by 712.8% during the second quarter. Holocene Advisors LP now owns 1,646,034 shares of the company’s stock valued at $82,812,000 after acquiring an additional 1,443,512 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Weatherford International by 18.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,539,727 shares of the company’s stock worth $120,505,000 after purchasing an additional 238,154 shares during the period. 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.