Weatherford International (WFT) Given a $6.00 Price Target by UBS Group Analysts

Weatherford International (NYSE:WFT) has been given a $6.00 price target by analysts at UBS Group in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. UBS Group’s target price suggests a potential upside of 62.60% from the company’s previous close.

Several other research firms also recently commented on WFT. Jefferies Group set a $5.00 price objective on Weatherford International and gave the company a “hold” rating in a report on Thursday, October 5th. Citigroup boosted their price objective on Weatherford International from $5.30 to $5.60 and gave the company a “buy” rating in a report on Thursday, October 5th. Royal Bank of Canada set a $6.00 price objective on Weatherford International and gave the company a “buy” rating in a report on Sunday, October 8th. Cowen set a $8.00 price target on Weatherford International and gave the stock a “buy” rating in a report on Friday, October 6th. Finally, Deutsche Bank began coverage on Weatherford International in a report on Tuesday, October 10th. They set a “buy” rating and a $6.00 price target for the company. Four research analysts have rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Weatherford International currently has an average rating of “Buy” and a consensus price target of $5.94.

Shares of Weatherford International (WFT) opened at $3.69 on Wednesday. The company has a market capitalization of $3,640.00, a P/E ratio of -2.58 and a beta of 2.32. Weatherford International has a 1-year low of $3.08 and a 1-year high of $7.09. The company has a current ratio of 2.04, a quick ratio of 1.33 and a debt-to-equity ratio of 5.44.

Weatherford International (NYSE:WFT) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. Weatherford International had a negative return on equity of 67.44% and a negative net margin of 25.36%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.39) earnings per share. sell-side analysts expect that Weatherford International will post -1.02 EPS for the current year.

In other Weatherford International news, VP Douglas M. Mills sold 7,500 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total value of $28,125.00. Following the transaction, the vice president now owns 271,625 shares of the company’s stock, valued at $1,018,593.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.16% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in Weatherford International by 8.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock worth $215,000 after purchasing an additional 4,497 shares during the last quarter. KLCM Advisors Inc. boosted its position in Weatherford International by 0.9% in the second quarter. KLCM Advisors Inc. now owns 539,333 shares of the oil and gas company’s stock worth $2,087,000 after purchasing an additional 4,776 shares during the last quarter. Bluestein R H & Co. boosted its position in Weatherford International by 11.3% in the second quarter. Bluestein R H & Co. now owns 50,100 shares of the oil and gas company’s stock worth $194,000 after purchasing an additional 5,100 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Weatherford International by 3.1% in the second quarter. Neuberger Berman Group LLC now owns 332,703 shares of the oil and gas company’s stock worth $1,288,000 after purchasing an additional 9,941 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Weatherford International by 0.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,800,273 shares of the oil and gas company’s stock worth $14,708,000 after purchasing an additional 10,661 shares during the last quarter.

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