Weatherford International Ltd. (WFT) Earns Buy Rating from Jefferies Group
Jefferies Group reissued their buy rating on shares of Weatherford International Ltd. (NYSE:WFT) in a research note published on Thursday. The brokerage currently has a $7.00 target price on the stock, down from their previous target price of $7.50.
Other equities analysts have also issued reports about the stock. Citigroup Inc. lifted their price objective on shares of Weatherford International from $7.00 to $8.00 and gave the company a buy rating in a research report on Tuesday, October 11th. Zacks Investment Research raised Weatherford International from a hold rating to a buy rating and set a $6.25 target price for the company in a report on Thursday, October 6th. Seaport Global Securities reissued a buy rating on shares of Weatherford International in a report on Friday, August 19th. Nomura set a $10.00 target price on Weatherford International and gave the company a buy rating in a report on Tuesday, August 16th. Finally, JPMorgan Chase & Co. reissued a buy rating and issued a $9.00 target price on shares of Weatherford International in a report on Friday, July 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $8.27.
Shares of Weatherford International (NYSE:WFT) opened at 4.94 on Thursday. The stock’s market cap is $4.43 billion. Weatherford International has a one year low of $3.73 and a one year high of $11.21. The company has a 50 day moving average of $5.40 and a 200-day moving average of $5.77.
Weatherford International (NYSE:WFT) last posted its quarterly earnings data on Tuesday, October 25th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.14. Weatherford International had a negative net margin of 63.74% and a negative return on equity of 24.19%. The firm earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the business earned ($0.05) earnings per share. The business’s quarterly revenue was down 39.4% on a year-over-year basis. On average, analysts anticipate that Weatherford International will post ($1.28) earnings per share for the current year.
In related news, VP Douglas M. Mills sold 12,500 shares of the stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $5.97, for a total value of $74,625.00. Following the completion of the sale, the vice president now directly owns 223,933 shares of the company’s stock, valued at approximately $1,336,880.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Highbridge Capital Management LLC increased its stake in shares of Weatherford International by 24.3% in the third quarter. Highbridge Capital Management LLC now owns 235,105 shares of the company’s stock valued at $1,321,000 after buying an additional 45,988 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Weatherford International during the third quarter valued at about $250,000. TLP Group LLC acquired a new stake in shares of Weatherford International during the third quarter valued at about $187,000. Two Sigma Securities LLC acquired a new stake in shares of Weatherford International during the third quarter valued at about $483,000. Finally, UBS Oconnor LLC increased its stake in shares of Weatherford International by 47.6% in the third quarter. UBS Oconnor LLC now owns 3,661,324 shares of the company’s stock valued at $20,577,000 after buying an additional 1,180,628 shares in the last quarter. 97.61% of the stock is owned by hedge funds and other institutional investors.
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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