Stifel Nicolaus Reiterates Hold Rating for Weatherford International (WFT)

Stifel Nicolaus reaffirmed their hold rating on shares of Weatherford International (NYSE:WFT) in a research note released on Wednesday morning. They currently have a $2.50 target price on the oil and gas company’s stock.

WFT has been the topic of a number of other reports. Citigroup cut Weatherford International from a neutral rating to a sell rating and dropped their price target for the stock from $3.50 to $1.00 in a research report on Tuesday. Bank of America started coverage on Weatherford International in a research report on Wednesday, October 17th. They issued an underperform rating on the stock. Societe Generale lowered shares of Weatherford International from a buy rating to a sell rating and set a $2.00 price objective for the company. in a report on Friday, October 12th. BMO Capital Markets set a $4.00 price objective on shares of Weatherford International and gave the stock a buy rating in a report on Wednesday, July 11th. Finally, Morgan Stanley started coverage on shares of Weatherford International in a report on Tuesday, September 18th. They issued an equal weight rating and a $4.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $3.78.

Shares of WFT opened at $1.24 on Wednesday. Weatherford International has a 52 week low of $1.10 and a 52 week high of $4.41. The company has a market capitalization of $1.26 billion, a PE ratio of -1.07 and a beta of 2.39.

Weatherford International (NYSE:WFT) last issued its quarterly earnings results on Monday, October 29th. The oil and gas company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.58%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the firm posted ($0.22) EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, research analysts predict that Weatherford International will post -0.58 earnings per share for the current year.

In other Weatherford International news, Director William E. Macaulay sold 767,591 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $2.86, for a total transaction of $2,195,310.26. Following the completion of the sale, the director now directly owns 399,443 shares in the company, valued at approximately $1,142,406.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Angela A. Minas bought 40,000 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were bought at an average price of $2.45 per share, with a total value of $98,000.00. Following the completion of the purchase, the director now owns 102,711 shares in the company, valued at approximately $251,641.95. The disclosure for this purchase can be found here. 0.44% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP purchased a new stake in Weatherford International during the 2nd quarter valued at $119,000. Brave Asset Management Inc. raised its stake in Weatherford International by 150.0% during the 3rd quarter. Brave Asset Management Inc. now owns 40,000 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 24,000 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Weatherford International during the 2nd quarter valued at $158,000. Berkshire Asset Management LLC PA raised its stake in Weatherford International by 37.2% during the 2nd quarter. Berkshire Asset Management LLC PA now owns 55,612 shares of the oil and gas company’s stock valued at $183,000 after buying an additional 15,071 shares during the last quarter. Finally, Wedbush Securities Inc. raised its stake in Weatherford International by 51.3% during the 2nd quarter. Wedbush Securities Inc. now owns 59,786 shares of the oil and gas company’s stock valued at $197,000 after buying an additional 20,272 shares during the last quarter.

Weatherford International Company Profile

Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.

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Analyst Recommendations for Weatherford International (NYSE:WFT)

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