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Weatherford International (NASDAQ:WFRD) Shares Gap Up on Analyst Upgrade

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Weatherford International plc (NASDAQ:WFRD – Get Rating) shares gapped up prior to trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $30.00 to $38.00. The stock had previously closed at $30.15, but opened at $31.33. The Goldman Sachs Group currently has a buy rating on the stock. Weatherford International shares last traded at $30.58, with a volume of 432 shares traded.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Weatherford International in a report on Wednesday, June 8th. They set a "buy" rating and a $49.00 price objective on the stock. Evercore ISI reissued an "outperform" rating and set a $53.00 price objective on shares of Weatherford International in a report on Tuesday, September 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $46.80.

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Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new position in Weatherford International during the 1st quarter valued at about $25,000. Cambridge Investment Research Advisors Inc. lifted its position in Weatherford International by 8.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,198 shares of the company's stock valued at $406,000 after purchasing an additional 958 shares during the period. Point72 Hong Kong Ltd acquired a new position in Weatherford International during the 2nd quarter valued at about $25,000. Mirabella Financial Services LLP lifted its position in Weatherford International by 19.8% during the 1st quarter. Mirabella Financial Services LLP now owns 10,631 shares of the company's stock valued at $354,000 after purchasing an additional 1,759 shares during the period. Finally, UBS Group AG lifted its position in Weatherford International by 83.6% during the 1st quarter. UBS Group AG now owns 5,985 shares of the company's stock valued at $199,000 after purchasing an additional 2,725 shares during the period. 94.13% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Trading Up 4.1 %

The company has a debt-to-equity ratio of 4.82, a quick ratio of 1.66 and a current ratio of 2.18. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -6.65 and a beta of 1.40. The business's 50-day simple moving average is $25.50 and its 200-day simple moving average is $28.90.

Weatherford International (NASDAQ:WFRD – Get Rating) last released its earnings results on Wednesday, July 27th. The company reported ($0.11) earnings per share (EPS) for the quarter. The business had revenue of $1.06 billion for the quarter. Weatherford International had a negative net margin of 8.44% and a negative return on equity of 26.60%. On average, research analysts expect that Weatherford International plc will post -0.7 earnings per share for the current fiscal year.

About Weatherford International

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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.

Further Reading

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