Morgan Stanley set a $3.00 price objective on Weatherford International (NYSE:WFT) in a research note released on Tuesday. The firm currently has a hold rating on the oil and gas company’s stock.
Several other research analysts also recently weighed in on the company. BMO Capital Markets set a $3.00 price target on Weatherford International and gave the stock a buy rating in a research note on Tuesday. Jefferies Financial Group set a $1.00 price target on Weatherford International and gave the stock a hold rating in a research note on Monday, November 5th. Stifel Nicolaus restated a hold rating and issued a $2.50 price target on shares of Weatherford International in a research note on Wednesday, October 31st. UBS Group cut Weatherford International from a buy rating to a neutral rating and decreased their price objective for the stock from $5.00 to $2.00 in a report on Wednesday, October 31st. Finally, Guggenheim cut Weatherford International from a buy rating to a neutral rating in a report on Wednesday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $3.50.
WFT stock opened at $1.13 on Tuesday. Weatherford International has a 1-year low of $1.09 and a 1-year high of $4.41.
Weatherford International (NYSE:WFT) last posted its quarterly earnings results on Monday, October 29th. The oil and gas company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.58%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the company posted ($0.22) EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Weatherford International will post -0.57 EPS for the current fiscal year.
In related news, Director William E. Macaulay sold 767,591 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $2.86, for a total transaction of $2,195,310.26. Following the sale, the director now owns 399,443 shares in the company, valued at approximately $1,142,406.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Angela A. Minas purchased 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were bought at an average price of $2.45 per share, for a total transaction of $98,000.00. Following the acquisition, the director now directly owns 102,711 shares in the company, valued at approximately $251,641.95. The disclosure for this purchase can be found here. Corporate insiders own 0.44% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC raised its holdings in Weatherford International by 100.0% during the 2nd quarter. Crewe Advisors LLC now owns 136,846 shares of the oil and gas company’s stock valued at $382,000 after buying an additional 68,423 shares during the period. Bank of New York Mellon Corp raised its holdings in Weatherford International by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,245,369 shares of the oil and gas company’s stock valued at $13,967,000 after buying an additional 89,037 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Weatherford International by 13.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,273,299 shares of the oil and gas company’s stock valued at $17,350,000 after buying an additional 634,542 shares during the period. Sustainable Insight Capital Management LLC purchased a new stake in Weatherford International during the 2nd quarter valued at $720,000. Finally, Sandia Holdings LLC raised its holdings in Weatherford International by 33.9% during the 2nd quarter. Sandia Holdings LLC now owns 2,728,262 shares of the oil and gas company’s stock valued at $8,976,000 after buying an additional 690,954 shares during the period.
About Weatherford International
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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