Weatherford International PLC (WFT) Given Buy Rating at BMO Capital Markets
BMO Capital Markets reissued their buy rating on shares of Weatherford International PLC (NYSE:WFT) in a research note released on Thursday morning. BMO Capital Markets currently has a $4.75 price objective on the oil and gas company’s stock, down from their prior price objective of $7.00.
Several other research firms have also commented on WFT. Zacks Investment Research raised Weatherford International PLC from a sell rating to a hold rating in a report on Thursday, April 6th. Royal Bank Of Canada reissued a buy rating and issued a $8.00 target price on shares of Weatherford International PLC in a report on Monday, April 3rd. Jefferies Group LLC set a $6.00 target price on Weatherford International PLC and gave the company a hold rating in a report on Monday, April 3rd. Stephens reissued an underweight rating and issued a $3.75 target price on shares of Weatherford International PLC in a report on Monday, March 27th. Finally, Goldman Sachs Group Inc lowered Weatherford International PLC from a buy rating to a neutral rating and increased their target price for the company from $6.33 to $7.00 in a report on Wednesday, April 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Weatherford International PLC has a consensus rating of Buy and an average price target of $6.66.
Shares of Weatherford International PLC (WFT) traded up 1.45% on Thursday, hitting $4.19. The stock had a trading volume of 16,338,372 shares. The stock has a 50 day moving average of $4.56 and a 200 day moving average of $5.45. The firm’s market cap is $4.13 billion. Weatherford International PLC has a 12-month low of $3.39 and a 12-month high of $7.09. Weatherford International PLC also was the recipient of some unusual options trading on Thursday. Traders bought 16,213 put options on the stock. This is an increase of approximately 475% compared to the typical daily volume of 2,819 put options.
Weatherford International PLC (NYSE:WFT) last posted its earnings results on Friday, April 28th. The oil and gas company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.31) by $0.01. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Weatherford International PLC had a negative net margin of 60.22% and a negative return on equity of 47.36%. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the company earned ($0.29) EPS. Equities analysts predict that Weatherford International PLC will post ($0.99) earnings per share for the current fiscal year.
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In other Weatherford International PLC news, VP Douglas M. Mills sold 17,500 shares of Weatherford International PLC stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $5.19, for a total value of $90,825.00. Following the transaction, the vice president now owns 296,625 shares in the company, valued at approximately $1,539,483.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the stock. Greenwood Capital Associates LLC raised its position in Weatherford International PLC by 0.8% in the first quarter. Greenwood Capital Associates LLC now owns 32,964 shares of the oil and gas company’s stock valued at $220,000 after buying an additional 259 shares during the last quarter. Intl Fcstone Inc. raised its position in Weatherford International PLC by 0.8% in the first quarter. Intl Fcstone Inc. now owns 55,793 shares of the oil and gas company’s stock valued at $278,000 after buying an additional 437 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Weatherford International PLC by 3.2% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 32,500 shares of the oil and gas company’s stock valued at $216,000 after buying an additional 1,000 shares during the last quarter. World Asset Management Inc raised its position in Weatherford International PLC by 2.0% in the first quarter. World Asset Management Inc now owns 50,937 shares of the oil and gas company’s stock valued at $339,000 after buying an additional 1,020 shares during the last quarter. Finally, BKD Wealth Advisors LLC raised its position in Weatherford International PLC by 9.5% in the first quarter. BKD Wealth Advisors LLC now owns 16,884 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 1,471 shares during the last quarter.
Weatherford International PLC 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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