Deutsche Bank Aktiengesellschaft Initiates Coverage on Weatherford International (NASDAQ:WFRD)

Research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Weatherford International (NASDAQ:WFRD – Get Rating) in a research report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group started coverage on Weatherford International in a report on Wednesday. They issued a “buy” rating and a $43.00 price target on the stock. Zacks Investment Research upgraded Weatherford International from a “sell” rating to a “hold” rating in a research report on Wednesday, May 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Weatherford International has an average rating of “Buy” and an average price target of $43.00.

Shares of WFRD opened at $34.18 on Wednesday. Weatherford International has a twelve month low of $13.82 and a twelve month high of $40.16. 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 firm has a market capitalization of $2.41 billion and a P/E ratio of -5.78. The firm’s 50-day moving average is $33.49 and its two-hundred day moving average is $31.30.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Weatherford International during the first quarter valued at $25,000. Citigroup Inc. acquired a new stake in shares of Weatherford International during the 4th quarter worth about $36,000. Wells Fargo & Company MN purchased a new stake in shares of Weatherford International during the second quarter worth about $32,000. Morgan Stanley acquired a new position in shares of Weatherford International in the second quarter valued at approximately $102,000. Finally, Bank of America Corp DE lifted its stake in shares of Weatherford International by 12,548.9% during the fourth quarter. Bank of America Corp DE now owns 5,945 shares of the company’s stock valued at $164,000 after buying an additional 5,898 shares during the period. 93.07% of the stock is owned by institutional investors.

About Weatherford International (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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