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.
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.
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