Weatherford International (WFT) Given a $3.00 Price Target at BMO Capital Markets

BMO Capital Markets set a $3.00 price objective on Weatherford International (NYSE:WFT) in a research note released on Tuesday. The firm currently has a buy rating on the oil and gas company’s stock.

Several other research analysts also recently commented on WFT. Zacks Investment Research downgraded shares of Weatherford International from a hold rating to a sell rating in a report on Sunday, July 15th. Piper Jaffray Companies set a $2.00 target price on shares of Weatherford International and gave the stock a hold rating in a report on Tuesday, October 30th. UBS Group downgraded shares of Weatherford International from a buy rating to a neutral rating and dropped their target price for the stock from $5.00 to $2.00 in a report on Wednesday, October 31st. Jefferies Financial Group set a $1.00 target price on shares of Weatherford International and gave the stock a hold rating in a report on Monday, November 5th. Finally, Guggenheim downgraded shares of 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 assigned a hold rating and ten have assigned a buy rating to the company’s stock. Weatherford International presently has a consensus rating of Hold and an average price target of $3.50.

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

In other news, Director William E. Macaulay sold 767,591 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $2.86, for a total transaction of $2,195,310.26. Following the transaction, 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 SEC, which is accessible through the SEC website. Also, Director Angela A. Minas acquired 40,000 shares of the company’s stock in a transaction dated 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 owns 102,711 shares in the company, valued at approximately $251,641.95. The disclosure for this purchase can be found here. Insiders own 0.44% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its holdings in shares of Weatherford International by 5.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 34,487,196 shares of the oil and gas company’s stock worth $93,460,000 after purchasing an additional 1,829,806 shares during the period. Perella Weinberg Partners Capital Management LP increased its holdings in shares of Weatherford International by 8.6% during the 3rd quarter. Perella Weinberg Partners Capital Management LP now owns 23,255,018 shares of the oil and gas company’s stock worth $63,021,000 after purchasing an additional 1,835,110 shares during the period. FMR LLC increased its holdings in shares of Weatherford International by 0.4% during the 3rd quarter. FMR LLC now owns 12,510,630 shares of the oil and gas company’s stock worth $33,903,000 after purchasing an additional 49,733 shares during the period. Poplar Forest Capital LLC increased its holdings in shares of Weatherford International by 38.7% during the 3rd quarter. Poplar Forest Capital LLC now owns 9,733,959 shares of the oil and gas company’s stock worth $26,379,000 after purchasing an additional 2,713,638 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of 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 worth $17,350,000 after purchasing an additional 634,542 shares during the period.

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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