Weatherford International plc (WFT) Price Target Cut to $5.00

Weatherford International plc (NYSE:WFT) had its price target dropped by analysts at BMO Capital Markets from $5.50 to $5.00 in a research report issued to clients and investors on Thursday, November 2nd. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. BMO Capital Markets’ target price suggests a potential upside of 51.98% from the stock’s previous close.

Several other equities research analysts also recently commented on WFT. BidaskClub downgraded shares of Weatherford International plc from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of Weatherford International plc from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies set a $6.00 price objective on shares of Weatherford International plc and gave the company a “buy” rating in a report on Saturday, July 29th. Seaport Global Securities raised shares of Weatherford International plc from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.00 to $5.00 in a report on Wednesday, November 1st. Finally, Morgan Stanley lowered their price target on shares of Weatherford International plc from $6.00 to $5.50 and set an “overweight” rating on the stock in a report on Monday, August 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $6.07.

Shares of Weatherford International plc (WFT) traded down $0.06 during trading hours on Thursday, hitting $3.29. 28,790,197 shares of the company were exchanged, compared to its average volume of 21,716,531. The company has a current ratio of 2.04, a quick ratio of 1.33 and a debt-to-equity ratio of 5.44. Weatherford International plc has a 52 week low of $3.16 and a 52 week high of $7.09.

Weatherford International plc (NYSE:WFT) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. Weatherford International plc had a negative net margin of 25.36% and a negative return on equity of 67.44%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.39) EPS. analysts expect that Weatherford International plc will post -1.02 EPS for the current year.

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In related news, VP Douglas M. Mills sold 17,500 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $4.43, for a total value of $77,525.00. Following the completion of the sale, the vice president now owns 279,125 shares of the company’s stock, valued at $1,236,523.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.16% of the company’s stock.

A number of institutional investors have recently made changes to their positions in WFT. Principal Financial Group Inc. purchased a new position in Weatherford International plc during the first quarter valued at $616,000. HighTower Advisors LLC lifted its position in Weatherford International plc by 12.1% during the first quarter. HighTower Advisors LLC now owns 179,390 shares of the oil and gas company’s stock valued at $1,192,000 after buying an additional 19,323 shares during the period. Driehaus Capital Management LLC purchased a new position in Weatherford International plc during the first quarter valued at $129,000. Nomura Asset Management Co. Ltd. lifted its position in Weatherford International plc by 10.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 136,726 shares of the oil and gas company’s stock valued at $909,000 after buying an additional 12,626 shares during the period. Finally, Factory Mutual Insurance Co. lifted its position in Weatherford International plc by 35.4% during the second quarter. Factory Mutual Insurance Co. now owns 2,679,700 shares of the oil and gas company’s stock valued at $10,371,000 after buying an additional 700,000 shares during the period.

Weatherford International plc Company Profile

Analyst Recommendations for Weatherford International plc (NYSE:WFT)

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