Weatherford International Ltd. (WFT) Rating Reiterated by Stephens
Weatherford International Ltd. (NYSE:WFT)‘s stock had its “underweight” rating restated by research analysts at Stephens in a report issued on Thursday.
Other research analysts have also recently issued reports about the stock. Citigroup Inc. increased their price objective on shares of Weatherford International from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday, September 12th. Raymond James Financial Inc. cut shares of Weatherford International from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $7.00 to $6.50 in a report on Wednesday, November 2nd. Jefferies Group set a $8.00 price objective on shares of Weatherford International and gave the company a “buy” rating in a report on Tuesday, October 18th. Seaport Global Securities reiterated a “buy” rating on shares of Weatherford International in a report on Friday, August 19th. Finally, Zacks Investment Research upgraded shares of Weatherford International from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Thursday, October 6th. Three research 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 company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $8.27.
Weatherford International (NYSE:WFT) opened at 5.11 on Thursday. Weatherford International has a one year low of $3.73 and a one year high of $11.05. The firm has a 50-day moving average price of $5.13 and a 200 day moving average price of $5.60. The firm’s market capitalization is $4.58 billion.
Weatherford International (NYSE:WFT) last posted its earnings results on Tuesday, October 25th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.14. Weatherford International had a negative return on equity of 24.19% and a negative net margin of 63.74%. The firm earned $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company posted ($0.05) EPS. Weatherford International’s revenue for the quarter was down 39.4% on a year-over-year basis. Equities research analysts anticipate that Weatherford International will post ($1.28) earnings per share for the current year.
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In related news, VP Douglas M. Mills sold 12,500 shares of the firm’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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in Weatherford International by 11.0% in the second quarter. Bank of New York Mellon Corp now owns 4,279,923 shares of the company’s stock worth $23,754,000 after buying an additional 423,333 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in Weatherford International by 2.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 180,047 shares of the company’s stock worth $999,000 after buying an additional 3,800 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in Weatherford International during the second quarter worth about $250,000. Sippican Capital Advisors raised its position in Weatherford International by 49.7% in the second quarter. Sippican Capital Advisors now owns 225,703 shares of the company’s stock worth $1,253,000 after buying an additional 74,936 shares during the last quarter. Finally, Parkwood LLC purchased a new position in Weatherford International during the second quarter worth about $816,000. Institutional investors and hedge funds own 99.04% of the company’s stock.
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.
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