NEW YORK (TheStreet) -- Shares of Weatherford Int'l. (WFT) were slumping, lower by 1.88% to $12.27 in afternoon trading Monday, along with other energy related stocks as both WTI and Brent crude prices decline to trade in the red.
Oil prices were falling in negative territory amid the situation in Greece, causing investors to flee from riskier assets, according to Reuters.
U.S. crude for August delivery was down 1.84% to $58.53 a barrel as of 2:21 p.m. ET today, after reaching its lowest level since June 8.
Brent crude was down 1.66% to $62.21 a barrel after hitting its lowest level since May 28 of $61.35 a barrel earlier in the session.
Weatherford International is an Ireland-based oil company with operations in more than 100 countries.
Separately, TheStreet Ratings team rates WEATHERFORD INTL PLC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate WEATHERFORD INTL PLC (WFT) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its generally strong cash flow from operations. At the same time, however, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: