Credit Suisse Group Reiterates $6.00 Price Target for Weatherford International (WFT)

Weatherford International (NYSE:WFT) received a $6.00 price target from analysts at Credit Suisse Group in a report issued on Tuesday. The firm presently has a “buy” rating on the oil and gas company’s stock. Credit Suisse Group’s target price points to a potential upside of 73.41% from the company’s previous close.

Other analysts have also issued reports about the stock. Gabelli restated a “buy” rating on shares of Weatherford International in a report on Tuesday. BMO Capital Markets reduced their price objective on shares of Weatherford International from $5.50 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Jefferies Group set a $5.00 price objective on shares of Weatherford International and gave the company a “hold” rating in a report on Thursday, October 5th. Morgan Stanley reduced their price objective on shares of Weatherford International from $5.50 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Finally, Societe Generale raised Weatherford International from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Weatherford International currently has an average rating of “Buy” and an average price target of $6.03.

Shares of Weatherford International (NYSE WFT) traded down $0.71 on Tuesday, reaching $3.46. 74,630,000 shares of the company traded hands, compared to its average volume of 21,310,000. The stock has a market cap of $4,140.00, a price-to-earnings ratio of -2.42 and a beta of 2.32. Weatherford International has a 12-month low of $3.08 and a 12-month high of $7.09. The company has a debt-to-equity ratio of 5.44, a quick ratio of 1.33 and a current ratio of 2.04.

Weatherford International (NYSE:WFT) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. Weatherford International had a negative net margin of 25.36% and a negative return on equity of 67.44%. Weatherford International’s 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. research analysts anticipate that Weatherford International will post -1.02 earnings per share for the current year.

In other news, VP Douglas M. Mills sold 7,500 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total transaction of $28,125.00. Following the completion of the transaction, the vice president now directly owns 271,625 shares of the company’s stock, valued at $1,018,593.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.16% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Balentine LLC grew its position 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 buying an additional 14,922 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Weatherford International by 40.6% during the third quarter. Cubist Systematic Strategies LLC now owns 447,470 shares of the oil and gas company’s stock worth $2,049,000 after buying an additional 129,121 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Weatherford International by 61.0% in the third quarter. Janus Henderson Group PLC now owns 191,986 shares of the oil and gas company’s stock valued at $880,000 after purchasing an additional 72,741 shares in the last quarter. Boothbay Fund Management LLC boosted its holdings in Weatherford International by 450.0% in the third quarter. Boothbay Fund Management LLC now owns 54,998 shares of the oil and gas company’s stock valued at $252,000 after purchasing an additional 44,998 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Weatherford International by 5,565.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,389,998 shares of the oil and gas company’s stock valued at $6,366,000 after purchasing an additional 1,365,462 shares in the last quarter.

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Weatherford International Company Profile

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