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

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

A number of other brokerages have also recently issued reports on WFRD. Piper Sandler boosted their price objective on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. The Goldman Sachs Group increased their target price on Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Citigroup lifted their target price on Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a report on Friday. Barclays lowered their price target on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Finally, Zacks Research cut shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

Weatherford International Stock Up 0.7%

Weatherford International stock opened at $101.42 on Friday. The firm has a 50 day moving average price of $87.55 and a 200-day moving average price of $73.73. 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 has a twelve month low of $36.74 and a twelve month high of $106.41. The company has a market capitalization of $7.27 billion, a P/E ratio of 17.10 and a beta of 0.79.

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

Insider Buying and Selling

In related news, EVP Kristin Ruzicka sold 2,129 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $77.25, for a total transaction of $164,465.25. Following the transaction, the executive vice president owned 15,673 shares of the company’s stock, valued at approximately $1,210,739.25. This trade represents a 11.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Girish Saligram sold 100,000 shares of Weatherford International stock in a transaction dated 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. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Weatherford International

A number of large investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its position in Weatherford International by 4.2% during the 4th quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock valued at $252,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Weatherford International by 24.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock worth $55,000 after purchasing an additional 137 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Weatherford International by 3.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,662 shares of the company’s stock valued at $319,000 after purchasing an additional 167 shares in the last quarter. CWM LLC increased its position in shares of Weatherford International by 2.3% during the fourth quarter. CWM LLC now owns 7,711 shares of the company’s stock valued at $603,000 after buying an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after buying an additional 178 shares in the last quarter. 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.