Weatherford International (WFT) PT Set at $5.00 by Royal Bank of Canada

Weatherford International (NYSE:WFT) has been assigned a $5.00 price objective by Royal Bank of Canada in a report released on Thursday, December 21st. The firm presently has a “buy” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 17.65% from the company’s current price.

A number of other equities research analysts have also recently commented on WFT. Seaport Global Securities upgraded Weatherford International from a “neutral” rating to a “buy” rating and increased their target price for the company from $4.00 to $5.00 in a report on Wednesday, November 1st. Societe Generale upgraded Weatherford International from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Cowen set a $8.00 target price on Weatherford International and gave the company a “buy” rating in a report on Friday, October 6th. Citigroup increased their target price on Weatherford International from $5.30 to $5.60 and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $5.50 target price on shares of Weatherford International in a report on Friday, October 13th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Weatherford International has a consensus rating of “Buy” and a consensus target price of $5.90.

Weatherford International (NYSE:WFT) opened at $4.25 on Thursday. The stock has a market capitalization of $4,140.00, a P/E ratio of -2.97 and a beta of 2.32. Weatherford International has a one year low of $3.08 and a one year high of $7.09. The company has a debt-to-equity ratio of 5.44, a quick ratio of 1.33 and a current ratio of 2.04.

Weatherford International (NYSE:WFT) last issued its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Weatherford International had a negative return on equity of 67.44% and a negative net margin of 25.36%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted ($0.39) EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. research analysts anticipate that Weatherford International will post -1.02 earnings per share for the current year.

In related news, VP Douglas M. Mills sold 7,500 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total value of $28,125.00. Following the transaction, the vice president now directly owns 271,625 shares of the company’s stock, valued at approximately $1,018,593.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.16% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in Weatherford International by 8.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock valued at $215,000 after purchasing an additional 4,497 shares during the period. KLCM Advisors Inc. raised its position in Weatherford International by 0.9% in the second quarter. KLCM Advisors Inc. now owns 539,333 shares of the oil and gas company’s stock valued at $2,087,000 after purchasing an additional 4,776 shares during the period. Bluestein R H & Co. raised its position in Weatherford International by 11.3% in the second quarter. Bluestein R H & Co. now owns 50,100 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 5,100 shares during the period. Neuberger Berman Group LLC raised its position in Weatherford International by 3.1% in the second quarter. Neuberger Berman Group LLC now owns 332,703 shares of the oil and gas company’s stock valued at $1,288,000 after purchasing an additional 9,941 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Weatherford International by 0.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,800,273 shares of the oil and gas company’s stock valued at $14,708,000 after purchasing an additional 10,661 shares during the period.

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