Weatherford International (WFT) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Weatherford International (NYSE:WFT) from a sell rating to a hold rating in a research note published on Saturday morning.

According to Zacks, “Weatherford enjoys a leading position in the global oilfield services market. Its broad and technologically complex product/service offerings and growing presence in the Eastern Hemisphere are also encouraging. We appreciate the company’s cost-cutting initiatives, such as reduced headcount, consolidating facilities, to counter the prolonged oil price weakness. Despite these efforts, Weatherford’s debt-heavy balance sheet and weakness in generating free cash are other concerns. Weatherford is also facing pressure on top line. Moreover, the company’s price chart underperformed the broader market indices over the last one year. Given these headwinds, we expect Weatherford to be under pressure in the near future.”

Several other analysts also recently commented on the stock. Morgan Stanley reduced their price objective on shares of Weatherford International from $5.50 to $5.00 and set an overweight rating for the company in a research report on Thursday, November 2nd. Sanford C. Bernstein raised shares of Weatherford International from a market perform rating to an outperform rating in a research report on Friday, November 3rd. Citigroup downgraded shares of Weatherford International from a buy rating to a neutral rating and set a $4.20 price objective for the company. in a research report on Monday, November 6th. Jefferies Group set a $5.00 price objective on shares of Weatherford International and gave the stock a hold rating in a research report on Thursday, October 5th. Finally, Royal Bank of Canada set a $5.00 price objective on shares of Weatherford International and gave the stock a buy rating in a research report on Thursday, December 21st. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $5.90.

Shares of Weatherford International (WFT) opened at $4.25 on Friday. The company has a market cap of $4,220.00, a P/E ratio of -2.97 and a beta of 2.32. Weatherford International has a 52-week low of $3.08 and a 52-week high of $7.09. The company has a current ratio of 2.04, a quick ratio of 1.33 and a debt-to-equity ratio of 5.44.

Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. Weatherford International had a negative net margin of 25.36% and a negative return on equity of 67.44%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.39) EPS. research analysts expect that Weatherford International will post -1.02 earnings per share for the current year.

In related news, VP Douglas M. Mills sold 7,500 shares of Weatherford International stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $3.75, for a total value of $28,125.00. Following the completion of the sale, the vice president now owns 271,625 shares of the company’s stock, valued at approximately $1,018,593.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.16% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Balentine LLC lifted its stake in Weatherford International by 68.5% during the 3rd quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 14,922 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in Weatherford International by 40.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 447,470 shares of the oil and gas company’s stock valued at $2,049,000 after acquiring an additional 129,121 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Weatherford International by 61.0% during the 3rd quarter. Janus Henderson Group PLC now owns 191,986 shares of the oil and gas company’s stock valued at $880,000 after acquiring an additional 72,741 shares in the last quarter. Boothbay Fund Management LLC lifted its stake in Weatherford International by 450.0% during the 3rd quarter. Boothbay Fund Management LLC now owns 54,998 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 44,998 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Weatherford International by 5,565.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,389,998 shares of the oil and gas company’s stock valued at $6,366,000 after acquiring an additional 1,365,462 shares in the last quarter.

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