Weatherford International Ltd. (WFT) Price Target Increased to $8.00 by Analysts at Citigroup Inc.
Weatherford International Ltd. (NYSE:WFT) had its price target upped by Citigroup Inc. from $7.00 to $8.00 in a research note issued to investors on Tuesday. Citigroup Inc. currently has a buy rating on the stock.
WFT has been the topic of several other reports. Seaport Global Securities reaffirmed a buy rating on shares of Weatherford International in a report on Friday, August 19th. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $9.00 price objective on shares of Weatherford International in a report on Friday, July 29th. Zacks Investment Research raised shares of Weatherford International from a hold rating to a buy rating and set a $6.25 price objective on the stock in a report on Thursday, October 6th. Vetr raised shares of Weatherford International from a buy rating to a strong-buy rating and set a $6.95 price objective on the stock in a report on Monday, June 20th. Finally, Nomura set a $10.00 price objective on shares of Weatherford International and gave the company a buy rating in a report on Tuesday, August 16th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Weatherford International presently has a consensus rating of Buy and an average target price of $8.83.
Weatherford International (NYSE:WFT) opened at 6.07 on Tuesday. The stock’s market capitalization is $5.44 billion. The company’s 50-day moving average is $5.71 and its 200 day moving average is $6.13. Weatherford International has a 1-year low of $4.71 and a 1-year high of $11.49.
Weatherford International (NYSE:WFT) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.02. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.44 billion. Weatherford International had a negative net margin of 33.73% and a negative return on equity of 13.41%. The business’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) EPS. Equities analysts predict that Weatherford International will post $2.45 earnings per share for the current year.
In related news, VP Douglas M. Mills sold 12,500 shares of Weatherford International stock in a transaction on Friday, October 7th. The shares were sold at an average price of $5.97, for a total value of $74,625.00. Following the transaction, the vice president now directly owns 223,933 shares in the company, valued at approximately $1,336,880.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd acquired a new stake in Weatherford International during the first quarter worth approximately $130,340,000. Geode Capital Management LLC increased its stake in Weatherford International by 18.8% in the first quarter. Geode Capital Management LLC now owns 5,390,989 shares of the company’s stock worth $41,919,000 after buying an additional 853,411 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Weatherford International by 116.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 376,090 shares of the company’s stock worth $2,926,000 after buying an additional 202,300 shares during the period. Vanguard Group Inc. increased its stake in Weatherford International by 5.4% in the second quarter. Vanguard Group Inc. now owns 68,298,516 shares of the company’s stock worth $379,057,000 after buying an additional 3,504,828 shares during the period. Finally, State Street Corp increased its stake in Weatherford International by 36.9% in the first quarter. State Street Corp now owns 26,567,174 shares of the company’s stock worth $206,692,000 after buying an additional 7,166,608 shares during the period. 97.21% of the stock is owned by institutional investors.
About Weatherford International
Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.
Receive News & Stock Ratings for Weatherford International Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weatherford International Ltd. and related stocks with our FREE daily email newsletter.