Weiss Ratings Reiterates Hold (C) Rating for Weatherford International (NASDAQ:WFRD)

Key Points

• Weiss Ratings has reiterated a Hold rating for Weatherford International (NASDAQ: WFRD), indicating a cautious stance on the stock's performance.
• Several analysts have adjusted their price targets, with Barclays lowering it to $73, while Melius Research issued a buy rating with a target price of $108.
• The company reported earnings per share of $1.87, significantly beating expectations, but its revenue for the quarter declined by 14.3% year-over-year.

Weatherford International (NASDAQ:WFRD - Get Free Report)'s stock had its "hold (c)" rating reissued by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued research reports about the stock. Barclays lowered their price target on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Raymond James Financial restated an "outperform" rating and set a $70.00 price target (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Zacks Research upgraded shares of Weatherford International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Finally, Melius Research started coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They issued a "buy" rating and a $108.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $99.70.

Weatherford International Stock Performance

WFRD stock traded down $0.48 during trading on Wednesday, hitting $64.96. 362,320 shares of the company's stock traded hands, compared to its average volume of 1,232,363. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03. Weatherford International has a 52 week low of $36.74 and a 52 week high of $95.58. The stock has a fifty day moving average price of $61.70 and a two-hundred day moving average price of $53.38. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 1.78 and a beta of 0.79.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The firm's revenue for the quarter was down 14.3% compared to the same quarter last year. As a group, equities analysts anticipate that Weatherford International will post 5.89 EPS for the current fiscal year.

Institutional Trading of Weatherford International

A number of hedge funds have recently bought and sold shares of WFRD. Holocene Advisors LP lifted its stake in 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 buying an additional 1,443,512 shares in the last quarter. Federated Hermes Inc. lifted its stake in Weatherford International by 1,005.3% during the second quarter. Federated Hermes Inc. now owns 1,056,407 shares of the company's stock valued at $53,148,000 after buying an additional 960,832 shares in the last quarter. Millennium Management LLC lifted its stake in Weatherford International by 429.2% during the first quarter. Millennium Management LLC now owns 1,103,067 shares of the company's stock valued at $59,069,000 after buying an additional 894,636 shares in the last quarter. Norges Bank purchased a new stake in Weatherford International during the second quarter valued at about $41,542,000. Finally, Balyasny Asset Management L.P. lifted its stake in Weatherford International by 1,084.6% during the second quarter. Balyasny Asset Management L.P. now owns 686,010 shares of the company's stock valued at $34,513,000 after buying an additional 628,100 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Company Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.

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