Weatherford International Ltd. (WFT) Given a $8.00 Price Target at Jefferies Group
Jefferies Group set a $8.00 price objective on Weatherford International Ltd. (NYSE:WFT) in a research note issued to investors on Tuesday morning. The brokerage currently has a a buy rating on the stock.
Several other brokerages also recently issued reports on WFT. Imperial Capital assumed coverage on shares of Weatherford International in a report on Friday, June 24th. They set an in-line rating and a $7.00 price target for the company. Citigroup Inc. lifted their price target on shares of Weatherford International from $7.00 to $8.00 and gave the company a buy rating in a report on Tuesday, October 11th. Vetr raised shares of Weatherford International from a buy rating to a strong-buy rating and set a $6.95 price target for the company in a report on Monday, June 20th. Seaport Global Securities reissued a buy rating on shares of Weatherford International in a report on Friday, August 19th. Finally, Nomura set a $10.00 price target 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 issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Weatherford International presently has an average rating of Buy and an average price target of $8.87.
Weatherford International (NYSE:WFT) traded up 5.499% during mid-day trading on Tuesday, reaching $6.235. 17,542,974 shares of the company traded hands. Weatherford International has a one year low of $4.71 and a one year high of $11.49. The firm’s market cap is $5.59 billion. The stock’s 50-day moving average price is $5.77 and its 200-day moving average price is $6.08.
Weatherford International (NYSE:WFT) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02. Weatherford International had a negative net margin of 33.73% and a negative return on equity of 13.41%. The firm earned $1.40 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was down 41.3% on a year-over-year basis. Analysts forecast that Weatherford International will post ($1.03) earnings per share for the current fiscal year.
In related news, VP Douglas M. Mills sold 12,500 shares of the company’s stock in a transaction dated 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 $1,336,880.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in WFT. Orbis Allan Gray Ltd acquired a new position in Weatherford International during the first quarter valued at approximately $130,340,000. Geode Capital Management LLC increased its position 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 valued at $41,919,000 after buying an additional 853,411 shares during the period. Jacobs Levy Equity Management Inc. increased its position 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 valued at $2,926,000 after buying an additional 202,300 shares during the period. Vanguard Group Inc. increased its position in Weatherford International by 5.4% in the second quarter. Vanguard Group Inc. now owns 68,298,516 shares of the company’s stock valued at $379,057,000 after buying an additional 3,504,828 shares during the period. Finally, State Street Corp increased its position in Weatherford International by 36.9% in the first quarter. State Street Corp now owns 26,567,174 shares of the company’s stock valued at $206,692,000 after buying an additional 7,166,608 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.
Weatherford International Company Profile
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.
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