Weatherford International plc (WFT) Receives Average Rating of “Hold” from Analysts

Shares of Weatherford International plc (NYSE:WFT) have earned an average rating of “Hold” from the twenty-three analysts that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $3.25.

WFT has been the subject of a number of recent analyst reports. Bank of America initiated coverage on shares of Weatherford International in a research report on Wednesday, October 17th. They issued an “underperform” rating for the company. Citigroup downgraded shares of Weatherford International from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $3.50 to $1.00 in a research report on Tuesday, October 30th. Societe Generale set a $2.00 price objective on shares of Weatherford International and gave the company a “sell” rating in a research report on Tuesday, October 30th. UBS Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $5.00 to $2.00 in a research report on Wednesday, October 31st. Finally, Morgan Stanley initiated coverage on shares of Weatherford International in a research report on Tuesday, September 18th. They issued an “equal weight” rating and a $4.00 price objective for the company.

In other Weatherford International news, Director Angela A. Minas acquired 40,000 shares of the company’s stock in a transaction dated Monday, September 17th. The stock was acquired at an average cost of $2.45 per share, with a total value of $98,000.00. Following the purchase, the director now directly owns 102,711 shares in the company, valued at approximately $251,641.95. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William E. Macaulay sold 767,591 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 399,443 shares of the company’s stock, valued at $1,142,406.98. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of WFT. State of Alaska Department of Revenue increased its stake in shares of Weatherford International by 40.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 97,070 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 27,750 shares in the last quarter. Berkshire Asset Management LLC PA increased its stake in shares of Weatherford International by 37.2% during the 2nd quarter. Berkshire Asset Management LLC PA now owns 55,612 shares of the oil and gas company’s stock worth $183,000 after purchasing an additional 15,071 shares in the last quarter. Amalgamated Bank increased its stake in shares of Weatherford International by 12.4% during the 2nd quarter. Amalgamated Bank now owns 188,761 shares of the oil and gas company’s stock worth $621,000 after purchasing an additional 20,836 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Weatherford International by 6.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 778,565 shares of the oil and gas company’s stock worth $2,561,000 after purchasing an additional 43,741 shares in the last quarter. Finally, Perella Weinberg Partners Capital Management LP increased its stake in shares of Weatherford International by 3.0% during the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 21,419,908 shares of the oil and gas company’s stock worth $70,471,000 after purchasing an additional 614,832 shares in the last quarter.

Shares of NYSE:WFT opened at $1.13 on Friday. Weatherford International has a 52 week low of $1.09 and a 52 week high of $4.41.

Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Monday, October 29th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.03. The firm had revenue of $1.44 billion during 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 firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.22) earnings per share. As a group, equities research analysts expect that Weatherford International will post -0.57 EPS for the current fiscal year.

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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Analyst Recommendations for Weatherford International (NYSE:WFT)

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