Deutsche Bank AG Begins Coverage on Weatherford International PLC (WFT)

Deutsche Bank AG assumed coverage on shares of Weatherford International PLC (NYSE:WFT) in a report released on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $6.00 price target on the oil and gas company’s stock.

A number of other equities analysts have also recently weighed in on the company. Royal Bank Of Canada set a $6.00 price target on Weatherford International PLC and gave the stock a buy rating in a report on Sunday, October 8th. Cowen and Company set a $8.00 price target on Weatherford International PLC and gave the stock a buy rating in a report on Friday, October 6th. Jefferies Group LLC set a $5.00 price target on Weatherford International PLC and gave the stock a hold rating in a report on Thursday, October 5th. Citigroup Inc. boosted their price target on Weatherford International PLC from $5.30 to $5.60 and gave the stock a buy rating in a report on Thursday, October 5th. Finally, ValuEngine cut Weatherford International PLC from a sell rating to a strong sell rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Weatherford International PLC presently has a consensus rating of Buy and an average target price of $6.18.

Shares of Weatherford International PLC (NYSE:WFT) opened at 3.89 on Tuesday. Weatherford International PLC has a one year low of $3.39 and a one year high of $7.09. The firm has a 50-day moving average price of $4.18 and a 200 day moving average price of $4.63. The firm’s market capitalization is $3.85 billion.

Weatherford International PLC (NYSE:WFT) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share for the quarter, hitting the Zacks’ 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 company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm posted ($0.28) earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts forecast that Weatherford International PLC will post ($1.04) earnings per share for the current fiscal year.

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In other Weatherford International PLC news, VP Douglas M. Mills sold 17,500 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $4.43, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.16% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Laurion Capital Management LP purchased a new stake in shares of Weatherford International PLC in the first quarter worth about $109,000. Two Sigma Securities LLC boosted its position in shares of Weatherford International PLC by 14.5% in the first quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock worth $117,000 after buying an additional 2,238 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Weatherford International PLC by 1.5% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 33,000 shares of the oil and gas company’s stock worth $128,000 after buying an additional 500 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Weatherford International PLC in the first quarter worth about $129,000. Finally, Crawford Investment Counsel Inc. boosted its position in shares of Weatherford International PLC by 68.8% in the second quarter. Crawford Investment Counsel Inc. now owns 36,797 shares of the oil and gas company’s stock worth $142,000 after buying an additional 15,000 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.

Analyst Recommendations for Weatherford International PLC (NYSE:WFT)

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