Brokerages Set Weatherford International Plc (WFT) Price Target at $5.93

Weatherford International Plc (NYSE:WFT) has earned a consensus rating of “Buy” from the thirty analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, twenty have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.89.

A number of analysts have recently issued reports on WFT shares. Societe Generale upgraded shares of Weatherford International from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Citigroup lifted their price objective on shares of Weatherford International from $5.30 to $5.60 and gave the company a “buy” rating in a report on Thursday, October 5th. Seaport Global Securities upgraded shares of Weatherford International from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $4.00 to $5.00 in a report on Wednesday, November 1st. BMO Capital Markets reiterated a “buy” rating and issued a $5.50 price objective on shares of Weatherford International in a report on Friday, October 13th. Finally, Deutsche Bank started coverage on shares of Weatherford International in a report on Tuesday, October 10th. They issued a “buy” rating and a $6.00 price objective on the stock.

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

A number of hedge funds have recently added to or reduced their stakes in WFT. Quantitative Systematic Strategies LLC bought a new position in Weatherford International during the third quarter worth $123,000. Private Advisor Group LLC boosted its position in 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. CIBC World Markets Inc. bought a new position in Weatherford International during the second quarter worth $161,000. Balentine LLC boosted its position in 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. Finally, Toronto Dominion Bank boosted its position in Weatherford International by 244.5% during the third quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock worth $181,000 after purchasing an additional 28,070 shares during the period.

Weatherford International (NYSE WFT) traded down $0.11 during midday trading on Monday, hitting $3.96. 16,112,532 shares of the stock were exchanged, compared to its average volume of 22,010,000. The company has a quick ratio of 1.33, a current ratio of 2.04 and a debt-to-equity ratio of 5.44. Weatherford International has a 12 month low of $3.08 and a 12 month high of $7.09. The firm has a market capitalization of $4,040.00, a P/E ratio of -2.77 and a beta of 2.32.

Weatherford International (NYSE:WFT) last posted 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 Zacks’ 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 company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company earned ($0.39) earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. sell-side analysts predict that Weatherford International will post -1.02 earnings per share for the current fiscal year.

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Weatherford International Company Profile

Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.

Analyst Recommendations for Weatherford International (NYSE:WFT)

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