Weatherford International (NYSE:WFT) had its price objective cut by equities research analysts at Loop Capital to $7.00 in a report released on Tuesday, January 9th. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Loop Capital’s price target indicates a potential upside of 77.66% from the stock’s previous close.
A number of other brokerages also recently issued reports on WFT. Jefferies Group set a $5.00 price objective on Weatherford International and gave the company a “hold” rating in a research note on Thursday, October 5th. Citigroup boosted their price objective on Weatherford International from $5.30 to $5.60 and gave the company a “buy” rating in a research note on Thursday, October 5th. Royal Bank of Canada set a $6.00 price objective on Weatherford International and gave the company a “buy” rating in a research note on Sunday, October 8th. Cowen set a $8.00 price target on Weatherford International and gave the stock a “buy” rating in a report on Friday, October 6th. Finally, Deutsche Bank began coverage on Weatherford International in a report on Tuesday, October 10th. They issued a “buy” rating and a $6.00 price target on the stock. Five analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Weatherford International has a consensus rating of “Buy” and a consensus target price of $5.77.
Shares of Weatherford International (NYSE WFT) traded down $0.08 during trading hours on Tuesday, hitting $3.94. The company had a trading volume of 14,270,000 shares, compared to its average volume of 21,720,000. The company has a market cap of $3,990.00, a P/E ratio of -2.76 and a beta of 2.32. The company has a current ratio of 2.04, a quick ratio of 1.33 and a debt-to-equity ratio of 5.44. Weatherford International has a 52 week low of $3.08 and a 52 week high of $7.09.
In other news, VP Douglas M. Mills sold 17,931 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $4.34, for a total transaction of $77,820.54. Following the transaction, the vice president now owns 238,471 shares of the company’s stock, valued at approximately $1,034,964.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Douglas M. Mills sold 6,072 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $4.24, for a total value of $25,745.28. Following the transaction, the vice president now directly owns 232,399 shares in the company, valued at approximately $985,371.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,726 shares of company stock worth $193,648. Corporate insiders own 1.16% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Quantitative Systematic Strategies LLC bought a new position in Weatherford International in the 3rd quarter valued at $123,000. Balentine LLC grew its position in Weatherford International by 68.5% in the 3rd quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 14,922 shares during the last quarter. Private Advisor Group LLC grew its position in 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 valued at $146,000 after acquiring an additional 15,178 shares during the last quarter. Toronto Dominion Bank grew its position in 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 valued at $181,000 after acquiring an additional 28,070 shares during the last quarter. Finally, CIBC World Markets Inc. bought a new position in Weatherford International in the 2nd quarter valued at $161,000.
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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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