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

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

Several other equities research analysts also recently issued reports on WFT. Zacks Investment Research downgraded shares of Weatherford International from a hold rating to a sell rating in a research note on Thursday, July 13th. BMO Capital Markets reiterated a buy rating and issued a $4.75 target price (down from $7.00) on shares of Weatherford International in a research note on Thursday, July 13th. BidaskClub upgraded shares of Weatherford International from a strong sell rating to a sell rating in a research note on Wednesday, July 19th. Piper Jaffray Companies set a $6.00 price target on shares of Weatherford International and gave the company a buy rating in a report on Saturday, July 29th. Finally, Seaport Global Securities reissued a neutral rating on shares of Weatherford International in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $6.07.

Shares of Weatherford International (NYSE:WFT) traded up $0.19 during trading hours on Monday, reaching $3.48. 12,670,000 shares of the company traded hands, compared to its average volume of 25,210,000. Weatherford International has a twelve month low of $3.16 and a twelve month high of $7.09. 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 (NYSE:WFT) last issued its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. Weatherford International had a negative net margin of 25.36% and a negative return on equity of 67.44%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted ($0.39) EPS. Weatherford International’s revenue was up 7.1% on a year-over-year basis. sell-side analysts expect that Weatherford International will post -1.02 EPS for the current year.

In other news, VP Douglas M. Mills sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $4.43, for a total transaction of $77,525.00. Following the transaction, the vice president now directly 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 can be accessed through the SEC website. 1.16% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantitative Systematic Strategies LLC bought a new position in shares of Weatherford International during the third quarter worth approximately $123,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in shares of Weatherford International by 1.5% during 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 purchasing an additional 500 shares during the period. Balentine LLC increased its holdings in shares of Weatherford International by 68.5% during the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 14,922 shares during the period. Crawford Investment Counsel Inc. increased its holdings in shares of Weatherford International by 68.8% during the second quarter. Crawford Investment Counsel Inc. now owns 36,797 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 15,000 shares during the period. Finally, Private Advisor Group LLC increased its holdings in shares of Weatherford International by 63.2% during the second quarter. Private Advisor Group LLC now owns 39,207 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 15,178 shares during the period.

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Weatherford International Company Profile

Analyst Recommendations for Weatherford International (NYSE:WFT)

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