Weatherford International PLC (WFT) Downgraded to “Neutral” at Citigroup Inc.

Citigroup Inc. cut shares of Weatherford International PLC (NYSE:WFT) from a buy rating to a neutral rating in a research note issued to investors on Monday, November 6th, MarketBeat reports. Citigroup Inc. currently has $4.20 target price on the oil and gas company’s stock.

A number of other research analysts also recently issued reports on WFT. BidaskClub downgraded shares of Weatherford International PLC from a sell rating to a strong sell rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Weatherford International PLC from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Seaport Global Securities upgraded shares of Weatherford International PLC from a neutral rating to a buy rating and boosted their target price for the company from $4.00 to $5.00 in a research report on Wednesday, November 1st. Piper Jaffray Companies set a $6.00 target price on shares of Weatherford International PLC and gave the company a buy rating in a research report on Saturday, July 29th. Finally, Societe Generale upgraded shares of Weatherford International PLC from a hold rating to a buy rating in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $6.07.

Shares of Weatherford International PLC (WFT) opened at $3.42 on Monday. The company has a debt-to-equity ratio of 5.44, a current ratio of 2.04 and a quick ratio of 1.33. Weatherford International PLC has a 1 year low of $3.16 and a 1 year high of $7.09.

Weatherford International PLC (NYSE:WFT) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. The business 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 revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned ($0.39) EPS. research analysts forecast that Weatherford International PLC will post -1.02 earnings per share 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 the business. Vanguard Group Inc. lifted its position in Weatherford International PLC by 1.5% during the second quarter. Vanguard Group Inc. now owns 83,499,841 shares of the oil and gas company’s stock valued at $323,144,000 after buying an additional 1,203,292 shares during the period. Harris Associates L P increased its holdings in shares of Weatherford International PLC by 2,166.3% during the second quarter. Harris Associates L P now owns 61,075,275 shares of the oil and gas company’s stock valued at $236,361,000 after acquiring an additional 58,380,345 shares in the last quarter. State Street Corp increased its holdings in shares of Weatherford International PLC by 3.3% during the second quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock valued at $195,718,000 after acquiring an additional 1,617,102 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Weatherford International PLC by 71.9% during the second quarter. Wedge Capital Management L L P NC now owns 29,156,413 shares of the oil and gas company’s stock valued at $112,835,000 after acquiring an additional 12,194,205 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Weatherford International PLC by 12.5% during the third quarter. Van ECK Associates Corp now owns 26,859,040 shares of the oil and gas company’s stock valued at $123,014,000 after acquiring an additional 2,979,183 shares in the last quarter.

About Weatherford International PLC

Analyst Recommendations for Weatherford International PLC (NYSE:WFT)

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