Royal Bank Of Canada Reiterates “$6.00” Price Target for Weatherford International PLC (WFT)
Royal Bank Of Canada set a $6.00 price objective on Weatherford International PLC (NYSE:WFT) in a research report report published on Sunday. The brokerage currently has a buy rating on the oil and gas company’s stock.
Several other research analysts have also weighed in on the company. Sanford C. Bernstein raised Weatherford International PLC from a market perform rating to an outperform rating in a research report on Friday, November 3rd. BMO Capital Markets lifted their price objective 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 price objective on Weatherford International PLC and gave the stock a hold rating in a research report on Tuesday, August 1st. Cowen and Company set a $8.00 price objective on Weatherford International PLC and gave the stock a buy rating in a research report on Friday, October 6th. Finally, Zacks Investment Research raised Weatherford International PLC from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $6.07.
Weatherford International PLC (NYSE WFT) opened at $3.63 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.04 and a debt-to-equity ratio of 5.44. Weatherford International PLC has a 12-month low of $3.16 and a 12-month high of $7.09.
Weatherford International PLC (NYSE:WFT) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. Weatherford International PLC had a negative return on equity of 67.44% and a negative net margin of 25.36%. Weatherford International PLC’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned ($0.39) EPS. research analysts anticipate that Weatherford International PLC will post -1.02 earnings per share for the current fiscal year.
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In other news, VP Douglas M. Mills sold 17,500 shares of the business’s stock in a transaction that occurred on 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 approximately $1,236,523.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.16% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of WFT. Principal Financial Group Inc. purchased a new position in Weatherford International PLC in the first quarter valued at approximately $616,000. Mn Services Vermogensbeheer B.V. lifted its stake in Weatherford International PLC by 521.9% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 151,042 shares of the oil and gas company’s stock valued at $585,000 after purchasing an additional 126,754 shares during the last quarter. Exane Derivatives purchased a new position in Weatherford International PLC in the second quarter valued at approximately $1,637,000. Sippican Capital Advisors lifted its stake in Weatherford International PLC by 4.7% in the second quarter. Sippican Capital Advisors now owns 291,716 shares of the oil and gas company’s stock valued at $1,129,000 after purchasing an additional 12,976 shares during the last quarter. Finally, Doyle Wealth Management lifted its stake in Weatherford International PLC by 92.5% in the second quarter. Doyle Wealth Management now owns 1,944,053 shares of the oil and gas company’s stock valued at $7,523,000 after purchasing an additional 934,379 shares during the last quarter.
About Weatherford International PLC
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