Weatherford International’s (WFT) Buy Rating Reiterated at Deutsche Bank AG
Deutsche Bank AG reiterated their buy rating on shares of Weatherford International Ltd. (NYSE:WFT) in a research report sent to investors on Thursday. The brokerage currently has a $7.00 price target on the stock.
A number of other equities analysts also recently issued reports on the company. Raymond James Financial Inc. downgraded Weatherford International from a strong-buy rating to an outperform rating and cut their price target for the company from $7.00 to $6.50 in a research note on Wednesday, November 2nd. Jefferies Group reiterated a buy rating and set a $7.00 price target (down previously from $8.00) on shares of Weatherford International in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded Weatherford International from a hold rating to a buy rating and set a $6.25 price target for the company in a research note on Thursday, October 6th. JPMorgan Chase & Co. reiterated a buy rating and set a $9.00 price target on shares of Weatherford International in a research note on Friday, July 29th. Finally, Citigroup Inc. lifted their price target on Weatherford International from $7.00 to $8.00 and gave the company a buy rating in a research note on Monday, September 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Weatherford International presently has a consensus rating of Buy and an average price target of $8.27.
Weatherford International (NYSE:WFT) opened at 4.94 on Thursday. Weatherford International has a 52-week low of $3.73 and a 52-week high of $11.21. The stock has a 50 day moving average price of $5.40 and a 200 day moving average price of $5.77. The firm’s market cap is $4.43 billion.
Weatherford International (NYSE:WFT) last issued its earnings results on Tuesday, October 25th. The company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.14. The firm earned $1.36 billion during the quarter, compared to analyst estimates of $1.44 billion. Weatherford International had a negative net margin of 63.74% and a negative return on equity of 24.19%. The business’s quarterly revenue was down 39.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Equities analysts predict that Weatherford International will post ($1.28) earnings per share for the current fiscal year.
In other Weatherford International news, VP Douglas M. Mills sold 12,500 shares of the business’s 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 completion of the sale, the vice president now directly owns 223,933 shares of the company’s stock, valued at $1,336,880.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of 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. BlackRock Institutional Trust Company N.A. increased its position in Weatherford International by 8.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 22,982,502 shares of the company’s stock worth $127,553,000 after buying an additional 1,720,016 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Weatherford International by 27.0% in the second quarter. Wedge Capital Management L L P NC now owns 14,783,032 shares of the company’s stock worth $82,046,000 after buying an additional 3,142,666 shares during the last quarter. BlackRock Fund Advisors increased its position in Weatherford International by 4.1% in the second quarter. BlackRock Fund Advisors now owns 11,136,599 shares of the company’s stock worth $61,808,000 after buying an additional 441,320 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Weatherford International by 6.0% in the second quarter. Gamco Investors INC. ET AL now owns 8,530,345 shares of the company’s stock worth $47,343,000 after buying an additional 483,445 shares during the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.
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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