Weatherford International PLC (WFT) Earns Neutral Rating from Seaport Global Securities

Weatherford International PLC (NYSE:WFT)‘s stock had its “neutral” rating reiterated by investment analysts at Seaport Global Securities in a research note issued on Friday, July 28th.

Several other brokerages also recently weighed in on WFT. UBS AG reiterated a “buy” rating and issued a $8.00 price target (down previously from $9.00) on shares of Weatherford International PLC in a report on Tuesday, May 2nd. BMO Capital Markets restated a “buy” rating and issued a $7.00 price objective on shares of Weatherford International PLC in a research report on Tuesday, May 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $8.00 price objective on shares of Weatherford International PLC in a research report on Monday, April 3rd. Deutsche Bank AG reiterated a “buy” rating and set a $7.00 target price (down previously from $8.00) on shares of Weatherford International PLC in a research report on Tuesday, May 30th. Finally, Piper Jaffray Companies set a $6.00 price objective on Weatherford International PLC and gave the company a “buy” rating in a research note on Saturday, July 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Weatherford International PLC presently has a consensus rating of “Buy” and an average price target of $6.39.

Weatherford International PLC (NYSE:WFT) opened at 4.01 on Friday. The company’s market capitalization is $3.97 billion. Weatherford International PLC has a 12-month low of $3.39 and a 12-month high of $7.09. The firm has a 50-day moving average of $4.12 and a 200 day moving average of $5.14.

Weatherford International PLC (NYSE:WFT) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.28). Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted ($0.28) earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts forecast that Weatherford International PLC will post ($1.03) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Baldwin Brothers Inc. MA purchased a new position in Weatherford International PLC during the first quarter worth approximately $100,000. Sumitomo Mitsui Asset Management Company LTD increased its position in Weatherford International PLC by 13.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,982 shares of the oil and gas company’s stock worth $106,000 after buying an additional 1,899 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of Weatherford International PLC during the first quarter worth $109,000. BKD Wealth Advisors LLC boosted its stake in shares of Weatherford International PLC by 9.5% in the first quarter. BKD Wealth Advisors LLC now owns 16,884 shares of the oil and gas company’s stock worth $112,000 after buying an additional 1,471 shares during the last quarter. Finally, Two Sigma Securities LLC boosted its stake in shares of Weatherford International PLC by 14.5% in the first quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock worth $117,000 after buying an additional 2,238 shares during the last quarter.

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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