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

Weatherford International (NASDAQ:WFRD) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, October 8th. The Goldman Sachs Group increased their price target on Weatherford International from $66.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Citigroup lifted their price target on Weatherford International from $77.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. UBS Group initiated coverage on Weatherford International in a research note on Tuesday, December 2nd. They issued a “neutral” rating and a $82.00 price objective for the company. Finally, Piper Sandler raised their target price on Weatherford International from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.70.

Weatherford International Price Performance

Weatherford International stock opened at $84.11 on Wednesday. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 15.24 and a beta of 0.79. Weatherford International has a 52-week low of $36.74 and a 52-week high of $91.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.55 and a current ratio of 2.07. The stock’s 50 day moving average price is $78.23 and its two-hundred day moving average price is $67.45.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). Weatherford International had a net margin of 8.15% and a return on equity of 28.28%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm earned $2.06 earnings per share. The business’s quarterly revenue was down 12.6% on a year-over-year basis. On average, equities analysts predict that Weatherford International will post 5.89 earnings per share for the current year.

Insider Buying and Selling at Weatherford International

In other news, EVP Kristin Ruzicka sold 2,129 shares of Weatherford International stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $77.25, for a total value of $164,465.25. Following the completion of the transaction, the executive vice president owned 15,673 shares in the company, valued at $1,210,739.25. This trade represents a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Weatherford International

Large investors have recently modified their holdings of the company. Jaffetilchin Investment Partners LLC grew its position in Weatherford International by 14.7% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 7,376 shares of the company’s stock worth $577,000 after acquiring an additional 944 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Weatherford International during the fourth quarter worth about $10,966,000. Exchange Traded Concepts LLC purchased a new position in shares of Weatherford International in the 4th quarter worth about $89,000. Legacy Wealth Asset Management LLC bought a new position in shares of Weatherford International during the 4th quarter valued at about $212,000. Finally, Diversified Trust Co. raised its holdings in shares of Weatherford International by 105.9% during the 4th quarter. Diversified Trust Co. now owns 15,361 shares of the company’s stock valued at $1,202,000 after buying an additional 7,902 shares in the last quarter. 97.23% of the stock is currently 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.