Downgrade Alert for Weatherford International (WFT)
Weatherford International (NYSE:WFT) was downgraded from Overweight to Equalweight at Capital One today. The stock closed yesterday at $5.67 on volume of 54.3 million shares, above average daily volume of 14.2 million.
Weatherford International Ltd. provides equipment and services used for the drilling, completion, and production of oil and natural gas wells. The Company offers drilling and intervention services, completion systems, artificial lift systems, and compression services. Weatherford conducts operations in substantially all of the oil and natural gas producing regions in the world.
Weatherford International share prices have moved between a 52-week high of $14.91 and a 52-week low of $4.95 and closed yesterday at 15% above that low price at $5.67 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has slid 0.6%.
There is potential upside of 117.5% for shares of Weatherford International based on a current price of $5.67 and an average consensus analyst price target of $12.33. Weatherford International shares should first meet resistance at the 50-day moving average (MA) of $7.32 and find additional resistance at the 200-day MA of $8.63.
SmarTrend is tracking the current trend status for Weatherford International and will alert subscribers who have WFT in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades weatherford international