Wells Fargo & Co Reaffirms “Hold” Rating for Weatherford International (NYSE:WFT)

Wells Fargo & Co reaffirmed their hold rating on shares of Weatherford International (NYSE:WFT) in a research note published on Sunday, January 6th.

Several other research analysts have also issued reports on WFT. Piper Jaffray Companies set a $2.00 target price on shares of Weatherford International and gave the stock a hold rating in a research note on Tuesday, October 30th. Wolfe Research assumed coverage on shares of Weatherford International in a research note on Wednesday, October 10th. They set a peer perform rating on the stock. BMO Capital Markets set a $3.00 target price on shares of Weatherford International and gave the stock a buy rating in a research note on Tuesday, November 6th. Jefferies Financial Group set a $1.00 target price on shares of Weatherford International and gave the stock a hold rating in a research note on Friday, November 16th. Finally, Societe Generale lowered shares of Weatherford International from a buy rating to a sell rating and set a $2.00 target price on the stock. in a research note on Friday, October 12th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Weatherford International presently has an average rating of Hold and a consensus price target of $3.08.

Shares of NYSE WFT opened at $0.53 on Friday. Weatherford International has a 52-week low of $0.22 and a 52-week high of $4.41. The company has a market capitalization of $551.51 million, a price-to-earnings ratio of -0.45 and a beta of 2.28.

Weatherford International (NYSE:WFT) last posted its quarterly earnings data 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. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.52 billion. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.22) earnings per share. Equities research analysts predict that Weatherford International will post -0.57 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP purchased a new stake in shares of Weatherford International in the second quarter valued at about $119,000. Rhumbline Advisers raised its holdings in shares of Weatherford International by 7.8% in the second quarter. Rhumbline Advisers now owns 881,213 shares of the oil and gas company’s stock valued at $2,899,000 after purchasing an additional 63,780 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Weatherford International by 2.1% in the second 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 purchasing an additional 89,037 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Weatherford International by 13.7% in the second 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 purchasing an additional 634,542 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Weatherford International in the second quarter valued at about $158,000.

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.

Featured Article: Conference Calls and Individual Investors

Analyst Recommendations for Weatherford International (NYSE:WFT)

Receive News & Ratings for Weatherford International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weatherford International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply