Cowen Reiterates $5.00 Price Target for Weatherford International (WFT)

Cowen set a $5.00 price target on Weatherford International (NYSE:WFT) in a research report released on Friday. The brokerage currently has a buy rating on the oil and gas company’s stock.

WFT has been the subject of several other research reports. Barclays cut shares of Weatherford International from an overweight rating to an equal weight rating and dropped their price target for the company from $6.00 to $3.50 in a research note on Tuesday, February 13th. Seaport Global Securities reissued a buy rating and issued a $6.00 price target on shares of Weatherford International in a research note on Monday, February 5th. Loop Capital set a $5.00 price target on shares of Weatherford International and gave the company a buy rating in a research note on Tuesday, February 6th. Piper Jaffray cut shares of Weatherford International from an overweight rating to a neutral rating and set a $2.00 price target for the company. in a research note on Tuesday, April 3rd. Finally, Credit Suisse Group set a $6.00 price target on shares of Weatherford International and gave the company a buy rating in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $4.87.

Shares of NYSE WFT opened at $2.65 on Friday. Weatherford International has a 12-month low of $2.07 and a 12-month high of $6.16. The stock has a market cap of $2,603.27, a P/E ratio of -2.28 and a beta of 2.34. The company has a debt-to-equity ratio of -13.21, a current ratio of 1.74 and a quick ratio of 1.19.

Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.12). Weatherford International had a negative net margin of 49.36% and a negative return on equity of 114.20%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company posted ($0.32) EPS. The firm’s revenue was up 6.0% on a year-over-year basis. equities analysts forecast that Weatherford International will post -0.62 earnings per share for the current year.

In related news, VP Douglas M. Mills sold 17,931 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $4.34, for a total transaction of $77,820.54. Following the completion of the transaction, the vice president now owns 238,471 shares of the company’s stock, valued at approximately $1,034,964.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Douglas M. Mills sold 15,223 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $4.07, for a total transaction of $61,957.61. Following the transaction, the vice president now directly owns 256,402 shares of the company’s stock, valued at approximately $1,043,556.14. The disclosure for this sale can be found here. Insiders have sold a total of 39,226 shares of company stock valued at $165,523 in the last ninety days. 0.44% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in WFT. Larson Financial Group LLC acquired a new stake in Weatherford International during the 4th quarter worth approximately $104,000. Investors Research Corp acquired a new stake in Weatherford International during the 4th quarter worth approximately $105,000. State of Alaska Department of Revenue acquired a new stake in Weatherford International during the 4th quarter worth approximately $216,000. Icon Wealth Partners LLC acquired a new stake in Weatherford International during the 4th quarter worth approximately $266,000. Finally, American International Group Inc. lifted its holdings in Weatherford International by 39.2% during the 4th quarter. American International Group Inc. now owns 65,572 shares of the oil and gas company’s stock worth $273,000 after buying an additional 18,462 shares in the last quarter.

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About Weatherford International

Weatherford International Plc provides equipment and services to the oil and natural gas exploration and production industry. It operates its business through the following business groups: Formation Evaluation & Well Construction, Completion & Production and Land Drilling Rigs. The Formation Evaluation & Well Construction business group offers services such as controlled-pressure drilling and testing, drilling, tubular running, drilling tools, integrated drilling, wireline services, re-entry and fishing, cementing, liner systems, integrated laboratory services and surface logging.

Analyst Recommendations for Weatherford International (NYSE:WFT)

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