Weatherford International PLC (NYSE:WFT) had its target price increased by equities research analysts at Citigroup Inc. from $5.30 to $5.60 in a note issued to investors on Thursday, October 5th. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Citigroup Inc.’s price objective points to a potential upside of 41.41% from the stock’s current price.
WFT has been the subject of several other reports. Morgan Stanley reiterated an “overweight” rating and issued a $6.00 price target (down from $12.00) on shares of Weatherford International PLC in a report on Wednesday, June 21st. Seaport Global Securities restated a “neutral” rating on shares of Weatherford International PLC in a research note on Friday, July 28th. ValuEngine downgraded Weatherford International PLC from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Sanford C. Bernstein downgraded Weatherford International PLC from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $7.00 to $5.00 in a research note on Thursday, July 6th. Finally, Scotiabank restated a “buy” rating on shares of Weatherford International PLC in a research note on Tuesday, August 29th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $6.18.
Weatherford International PLC (WFT) traded down 2.02% during trading on Thursday, reaching $3.88. The company had a trading volume of 5,915,334 shares. Weatherford International PLC has a 52 week low of $3.39 and a 52 week high of $7.09. The firm’s market capitalization is $3.84 billion. The company’s 50-day moving average is $4.18 and its 200 day moving average is $4.61.
Weatherford International PLC (NYSE:WFT) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm earned ($0.28) EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts anticipate that Weatherford International PLC will post ($1.05) EPS for the current year.
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In related news, VP Douglas M. Mills sold 17,500 shares of Weatherford International PLC stock in a transaction on Friday, September 15th. The shares were 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 approximately $1,236,523.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.16% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in WFT. US Bancorp DE raised its holdings in Weatherford International PLC by 181.1% in the 1st quarter. US Bancorp DE now owns 25,523 shares of the oil and gas company’s stock worth $170,000 after acquiring an additional 16,444 shares during the period. Bank of New York Mellon Corp raised its holdings in Weatherford International PLC by 7.0% in the 1st quarter. Bank of New York Mellon Corp now owns 4,803,901 shares of the oil and gas company’s stock worth $31,946,000 after acquiring an additional 314,206 shares during the period. Karp Capital Management Corp bought a new position in Weatherford International PLC in the 1st quarter worth $1,193,000. TD Asset Management Inc. raised its holdings in Weatherford International PLC by 7.3% in the 1st quarter. TD Asset Management Inc. now owns 57,023 shares of the oil and gas company’s stock worth $379,000 after acquiring an additional 3,900 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in Weatherford International PLC by 107.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,148,243 shares of the oil and gas company’s stock worth $7,636,000 after acquiring an additional 594,553 shares during the period.
Weatherford International PLC Company Profile
Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.
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