Weatherford International PLC (WFT) PT Lowered to $5.50

Weatherford International PLC (NYSE:WFT) had its price objective reduced by research analysts at Morgan Stanley from $6.00 to $5.50 in a research report issued on Monday, August 7th. The firm currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 37.16% from the company’s previous close.

WFT has been the subject of a number of other reports. Piper Jaffray Companies set a $6.00 price target on shares of Weatherford International PLC and gave the company a “buy” rating in a research report on Saturday, July 29th. Scotiabank set a $6.00 price target on shares of Weatherford International PLC and gave the company a “hold” rating in a research report on Friday, July 7th. Seaport Global Securities reissued a “neutral” rating on shares of Weatherford International PLC in a research report on Friday, July 28th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $7.00 target price (down from $8.00) on shares of Weatherford International PLC in a report on Tuesday, May 30th. Finally, BidaskClub raised shares of Weatherford International PLC from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Weatherford International PLC currently has a consensus rating of “Buy” and a consensus target price of $6.39.

Weatherford International PLC (NYSE WFT) opened at 4.01 on Monday. Weatherford International PLC has a one year low of $3.39 and a one year high of $7.09. The stock’s 50 day moving average is $4.12 and its 200 day moving average is $5.14. The firm’s market cap is $3.97 billion.

Weatherford International PLC (NYSE:WFT) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted ($0.28) EPS. Weatherford International PLC’s revenue was down 2.8% on a year-over-year basis. On average, analysts predict that Weatherford International PLC will post ($1.03) earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its position in Weatherford International PLC by 58.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 101,807 shares of the oil and gas company’s stock worth $693,000 after buying an additional 37,643 shares during the last quarter. Teachers Advisors LLC raised its position in Weatherford International PLC by 15.9% in the first quarter. Teachers Advisors LLC now owns 10,031,765 shares of the oil and gas company’s stock worth $66,711,000 after buying an additional 1,372,563 shares during the last quarter. Korea Investment CORP purchased a new position in Weatherford International PLC during the first quarter worth $6,015,000. Cipher Capital LP purchased a new position in Weatherford International PLC during the first quarter worth $1,310,000. Finally, Omega Advisors Inc. purchased a new position in Weatherford International PLC during the first quarter worth $2,660,000.

About Weatherford International PLC

Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.

Analyst Recommendations for Weatherford International PLC (NYSE:WFT)

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