Weatherford International (NASDAQ:WFRD) Stock Rating Upgraded by Zacks Investment Research

Weatherford International (NASDAQ:WFRD – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Weatherford International Public Limited Company provides oil field services and equipment. The Company offers drilling solutions, gas well unloading, restoration and other related activities. Weatherford International Public Limited Company is based in TX, United States. “

Shares of NASDAQ WFRD traded up $0.30 during mid-day trading on Wednesday, reaching $31.86. The company had a trading volume of 12,328 shares, compared to its average volume of 486,668. The company has a current ratio of 2.22, a quick ratio of 1.70 and a debt-to-equity ratio of 5.67. The stock has a market cap of $2.25 billion and a PE ratio of -5.39. The company has a 50-day moving average price of $33.11 and a two-hundred day moving average price of $31.09. Weatherford International has a 1-year low of $11.00 and a 1-year high of $40.16.

Institutional investors have recently modified their holdings of the company. Swiss National Bank acquired a new stake in shares of Weatherford International in the fourth quarter worth $4,274,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Weatherford International in the fourth quarter worth $306,000. Wolverine Trading LLC boosted its position in shares of Weatherford International by 4.1% in the third quarter. Wolverine Trading LLC now owns 19,610 shares of the company’s stock worth $387,000 after buying an additional 767 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Weatherford International by 433.3% in the fourth quarter. Qube Research & Technologies Ltd now owns 122,619 shares of the company’s stock worth $3,399,000 after buying an additional 99,625 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in Weatherford International during the third quarter valued at $576,000. 93.07% of the stock is owned by institutional investors and hedge funds.

Weatherford International Company Profile (Get Rating)

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 in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing, cementing, and coiled-tubing intervention; and drill stem test tools, surface well testing, and multiphase flow measurement services.

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