BMO Capital Markets Reaffirms Buy Rating for Weatherford International PLC (WFT)
Weatherford International PLC (NYSE:WFT)‘s stock had its “buy” rating reaffirmed by stock analysts at BMO Capital Markets in a research note issued on Thursday, July 13th. They currently have a $4.75 target price on the oil and gas company’s stock, down from their prior target price of $7.00. BMO Capital Markets’ target price suggests a potential upside of 15.57% from the company’s current price.
A number of other research firms also recently issued reports on WFT. Zacks Investment Research raised Weatherford International PLC from a “sell” rating to a “hold” rating in a research report on Thursday, April 6th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $8.00 price target on shares of Weatherford International PLC in a report on Monday, April 3rd. Jefferies Group LLC set a $6.00 price target on Weatherford International PLC and gave the stock a “hold” rating in a report on Monday, April 3rd. Stephens reaffirmed an “underweight” rating and issued a $3.75 price target on shares of Weatherford International PLC in a report on Monday, March 27th. Finally, Goldman Sachs Group, Inc. (The) lowered Weatherford International PLC from a “buy” rating to a “neutral” rating and raised their price target for the stock from $6.33 to $7.00 in a report on Wednesday, April 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $6.52.
Shares of Weatherford International PLC (WFT) opened at 4.11 on Thursday. The company’s market cap is $4.06 billion. The firm’s 50-day moving average is $4.11 and its 200 day moving average is $5.24. Weatherford International PLC has a 1-year low of $3.39 and a 1-year high of $7.09.
Weatherford International PLC (NYSE:WFT) last released its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business posted ($0.28) earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts expect that Weatherford International PLC will post ($1.03) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Baldwin Brothers Inc. MA bought a new stake in shares of Weatherford International PLC during the first quarter worth approximately $100,000. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Weatherford International PLC by 13.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,982 shares of the oil and gas company’s stock worth $106,000 after buying an additional 1,899 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of Weatherford International PLC during the first quarter worth approximately $109,000. BKD Wealth Advisors LLC boosted its stake in shares of 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 worth $112,000 after buying an additional 1,471 shares in the last quarter. Finally, Two Sigma Securities LLC boosted its stake in shares of Weatherford International PLC by 14.5% in the first quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock worth $117,000 after buying an additional 2,238 shares in 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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