Weatherford International PLC (WFT) Given a $6.00 Price Target at Royal Bank Of Canada
Several other analysts also recently weighed in on the company. BMO Capital Markets lifted their target price on Weatherford International PLC from $4.75 to $5.50 and gave the stock an outperform rating in a research report on Thursday, August 3rd. Scotiabank set a $6.00 target price on Weatherford International PLC and gave the stock a hold rating in a research report on Friday, July 7th. Cowen and Company set a $8.00 target price on Weatherford International PLC and gave the stock a buy rating in a research report on Friday. Zacks Investment Research upgraded Weatherford International PLC from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Finally, BidaskClub upgraded Weatherford International PLC from a strong sell rating to a sell rating in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $6.22.
Shares of Weatherford International PLC (WFT) opened at 4.24 on Friday. The company’s 50-day moving average is $4.16 and its 200-day moving average is $4.71. Weatherford International PLC has a 12-month low of $3.39 and a 12-month high of $7.09. The company’s market capitalization is $4.19 billion.
Weatherford International PLC (NYSE:WFT) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.28). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.46 billion. Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. Weatherford International PLC’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the company earned ($0.28) earnings per share. 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 Weatherford International PLC stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $4.43, for a total value of $77,525.00. Following the transaction, the vice president now owns 279,125 shares in the company, valued at $1,236,523.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.16% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of WFT. Harris Associates L P grew its stake in Weatherford International PLC by 2,166.3% in the second quarter. Harris Associates L P now owns 61,075,275 shares of the oil and gas company’s stock valued at $236,361,000 after purchasing an additional 58,380,345 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Weatherford International PLC by 71.9% in the second quarter. Wedge Capital Management L L P NC now owns 29,156,413 shares of the oil and gas company’s stock valued at $112,835,000 after purchasing an additional 12,194,205 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Weatherford International PLC in the first quarter valued at about $42,887,000. State Street Corp grew its stake in Weatherford International PLC by 10.4% in the first quarter. State Street Corp now owns 48,956,761 shares of the oil and gas company’s stock valued at $325,562,000 after purchasing an additional 4,621,797 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in Weatherford International PLC by 59.5% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 10,938,200 shares of the oil and gas company’s stock valued at $42,331,000 after purchasing an additional 4,082,000 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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