Weatherford International PLC (WFT) Given a $5.00 Price Target at Jefferies Group LLC
Weatherford International PLC (NYSE:WFT) has been given a $5.00 price target by research analysts at Jefferies Group LLC in a report released on Thursday. The firm currently has a “hold” rating on the oil and gas company’s stock. Jefferies Group LLC’s price target indicates a potential upside of 17.10% from the stock’s current price.
Other equities analysts have also issued reports about the company. Barclays PLC raised Weatherford International PLC from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $7.00 to $6.00 in a research note on Wednesday, June 21st. Sanford C. Bernstein lowered Weatherford International PLC from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $7.00 to $5.00 in a research note on Thursday, July 6th. Royal Bank Of Canada set a $8.00 price target on Weatherford International PLC and gave the company a “buy” rating in a research note on Saturday, June 24th. Citigroup Inc. increased their price target on Weatherford International PLC from $5.30 to $5.60 and gave the company a “buy” rating in a research note on Thursday. Finally, Seaport Global Securities lowered Weatherford International PLC from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $4.00 in a research note on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $6.26.
Shares of Weatherford International PLC (WFT) opened at 4.27 on Thursday. The company’s market cap is $4.22 billion. The company has a 50-day moving average price of $4.15 and a 200-day moving average price of $4.72. Weatherford International PLC has a 52-week low of $3.39 and a 52-week high of $7.09.
Weatherford International PLC (NYSE:WFT) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) EPS for the quarter, meeting analysts’ consensus estimates of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company earned ($0.28) earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts predict that Weatherford International PLC will post ($1.04) EPS for the current year.
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In other Weatherford International PLC news, VP Douglas M. Mills sold 17,500 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $4.43, for a total transaction of $77,525.00. Following the transaction, the vice president now directly owns 279,125 shares in the company, valued at approximately $1,236,523.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.16% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Laurion Capital Management LP purchased a new position in Weatherford International PLC during the 1st quarter worth $109,000. Two Sigma Securities LLC increased its holdings in Weatherford International PLC by 14.5% during the 1st quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock worth $117,000 after purchasing an additional 2,238 shares during the period. Driehaus Capital Management LLC purchased a new position in Weatherford International PLC during the 1st quarter worth $129,000. US Bancorp DE increased its holdings in Weatherford International PLC by 181.1% during the 1st quarter. US Bancorp DE now owns 25,523 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 16,444 shares during the period. Finally, Fore Research & Management LP purchased a new position in Weatherford International PLC during the 1st quarter worth $199,000.
About Weatherford International PLC
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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