Weatherford International (WFT) Downgraded to “Sell” at Wells Fargo & Co

Weatherford International (NYSE:WFT) was downgraded by research analysts at Wells Fargo & Co to a “sell” rating in a report released on Tuesday, AnalystRatings.com reports.

WFT has been the topic of several other research reports. Zacks Investment Research raised Weatherford International from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Credit Suisse Group reiterated a “buy” rating and set a $1.00 price target on shares of Weatherford International in a report on Sunday, February 3rd. Griffin Securities reiterated a “buy” rating on shares of Weatherford International in a report on Wednesday, February 27th. Finally, Capital One Financial lowered Weatherford International from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. Weatherford International has a consensus rating of “Hold” and a consensus price target of $1.63.

NYSE:WFT opened at $0.05 on Tuesday. Weatherford International has a fifty-two week low of $0.22 and a fifty-two week high of $3.75. The stock has a market cap of $53.81 million, a price-to-earnings ratio of -0.09 and a beta of 2.11.

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Weatherford International by 10.0% during the 1st quarter. Geode Capital Management LLC now owns 10,295,440 shares of the oil and gas company’s stock valued at $7,186,000 after buying an additional 935,454 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Weatherford International by 241.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,093,590 shares of the oil and gas company’s stock worth $15,422,000 after purchasing an additional 15,618,681 shares during the last quarter. Caption Management LLC acquired a new stake in Weatherford International in the 1st quarter worth approximately $70,000. Renaissance Technologies LLC lifted its holdings in Weatherford International by 46.6% in the 1st quarter. Renaissance Technologies LLC now owns 5,270,432 shares of the oil and gas company’s stock worth $3,679,000 after purchasing an additional 1,674,402 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Weatherford International in the 1st quarter worth approximately $59,000. Institutional investors and hedge funds own 85.48% of the company’s stock.

Weatherford International Company Profile

Weatherford International plc, an oilfield service company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. The company operates in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing and fluid systems, cementing, and coiled-tubing intervention; and drill stem test tools, and surface well testing and multiphase flow measurement services.

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Analyst Recommendations for Weatherford International (NYSE:WFT)

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