Analysts Set Weatherford International plc (WFT) Target Price at $3.25

Shares of Weatherford International plc (NYSE:WFT) have been assigned a consensus rating of “Hold” from the twenty-three research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $3.27.

WFT has been the subject of several analyst reports. BMO Capital Markets set a $3.00 price objective on Weatherford International and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Tudor Pickering upgraded Weatherford International from a “sell” rating to a “buy” rating in a research report on Monday, August 20th. Jefferies Financial Group set a $1.00 price objective on Weatherford International and gave the stock a “hold” rating in a research report on Monday, November 5th. Wolfe Research initiated coverage on Weatherford International in a research report on Wednesday, October 10th. They set a “peer perform” rating for the company. Finally, Piper Jaffray Companies set a $2.00 price objective on Weatherford International and gave the stock a “hold” rating in a research report on Tuesday, October 30th.

In other Weatherford International news, Director William E. Macaulay sold 767,591 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $2.86, for a total value of $2,195,310.26. Following the completion of the sale, the director now directly owns 399,443 shares in the company, valued at $1,142,406.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Angela A. Minas bought 40,000 shares of the business’s stock in a transaction on Monday, September 17th. The stock was purchased at an average price of $2.45 per share, with a total value of $98,000.00. Following the completion of the transaction, the director now directly owns 102,711 shares of the company’s stock, valued at $251,641.95. The disclosure for this purchase can be found here. Corporate insiders own 0.44% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP acquired a new stake in shares of Weatherford International during the 2nd quarter valued at $119,000. Brave Asset Management Inc. lifted its position in shares of Weatherford International by 150.0% during the 3rd quarter. Brave Asset Management Inc. now owns 40,000 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 24,000 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Weatherford International during the 2nd quarter valued at $158,000. Berkshire Asset Management LLC PA lifted its position in shares of Weatherford International by 37.2% during the 2nd quarter. Berkshire Asset Management LLC PA now owns 55,612 shares of the oil and gas company’s stock valued at $183,000 after acquiring an additional 15,071 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its position in shares of Weatherford International by 51.3% during the 2nd quarter. Wedbush Securities Inc. now owns 59,786 shares of the oil and gas company’s stock valued at $197,000 after acquiring an additional 20,272 shares during the last quarter.

Shares of NYSE WFT traded down $0.06 during midday trading on Friday, hitting $0.78. 34,136,245 shares of the company’s stock were exchanged, compared to its average volume of 20,538,992. The company has a market cap of $966.69 million, a PE ratio of -0.67 and a beta of 2.84. Weatherford International has a twelve month low of $0.77 and a twelve month high of $4.41.

Weatherford International (NYSE:WFT) last issued its quarterly earnings data on Monday, October 29th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.52 billion. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.58%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) earnings per share. As a group, equities research analysts forecast that Weatherford International will post -0.57 earnings per share for the current year.

Weatherford International Company Profile

Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.

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Analyst Recommendations for Weatherford International (NYSE:WFT)

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