Weatherford International (NYSE:WFT) has been given a $6.00 price target by research analysts at Credit Suisse Group in a research note issued to investors on Tuesday, January 2nd. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Credit Suisse Group’s price objective points to a potential upside of 39.21% from the company’s current price.
WFT has been the topic of a number of other research reports. Citigroup upped their price objective on shares of Weatherford International from $5.30 to $5.60 and gave the stock a “buy” rating in a report on Thursday, October 5th. Seaport Global Securities upgraded shares of Weatherford International from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.00 to $5.00 in a research note on Wednesday, November 1st. Societe Generale upgraded shares of Weatherford International from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. BMO Capital Markets dropped their target price on shares of Weatherford International from $5.50 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Finally, Deutsche Bank began coverage on shares of Weatherford International in a research report on Tuesday, October 10th. They set a “buy” rating and a $6.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $5.77.
Shares of Weatherford International (NYSE:WFT) traded up $0.11 during midday trading on Tuesday, hitting $4.31. 10,477,458 shares of the company traded hands, compared to its average volume of 21,830,000. 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 current ratio of 2.04 and a quick ratio of 1.33. The stock has a market capitalization of $4,280.00, a PE ratio of -3.01 and a beta of 2.32.
In other Weatherford International news, VP Douglas M. Mills sold 17,931 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $4.34, for a total transaction of $77,820.54. Following the completion of the transaction, the vice president now owns 238,471 shares in the company, valued at $1,034,964.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Douglas M. Mills sold 15,223 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $4.07, for a total transaction of $61,957.61. Following the transaction, the vice president now owns 256,402 shares of the company’s stock, valued at approximately $1,043,556.14. The disclosure for this sale can be found here. Insiders have sold 40,654 shares of company stock valued at $167,903 over the last ninety days. 1.16% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC bought a new stake in shares of Weatherford International in the 3rd quarter worth about $123,000. Private Advisor Group LLC lifted its holdings in shares of Weatherford International by 63.2% in the 2nd quarter. Private Advisor Group LLC now owns 39,207 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 15,178 shares during the last quarter. CIBC World Markets Inc. bought a new stake in shares of Weatherford International in the 2nd quarter worth about $161,000. Balentine LLC lifted its holdings in shares of Weatherford International by 68.5% in the 3rd quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock worth $168,000 after acquiring an additional 14,922 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Weatherford International by 244.5% in the 3rd quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock worth $181,000 after acquiring an additional 28,070 shares during the last quarter.
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About Weatherford International
Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.
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