Weatherford International PLC’s (WFT) “Buy” Rating Reiterated at BMO Capital Markets

Weatherford International PLC (NYSE:WFT)‘s stock had its “buy” rating reiterated by BMO Capital Markets in a research note issued to investors on Friday. They currently have a $5.50 price objective on the oil and gas company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 37.84% from the company’s previous close.

WFT has been the topic of several other reports. BidaskClub downgraded Weatherford International PLC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Royal Bank Of Canada set a $8.00 target price on Weatherford International PLC and gave the stock a “buy” rating in a research report on Saturday, June 24th. Citigroup Inc. increased their target price on Weatherford International PLC from $5.30 to $5.60 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Cowen and Company set a $8.00 target price on Weatherford International PLC and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Zacks Investment Research upgraded Weatherford International PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Weatherford International PLC currently has an average rating of “Buy” and a consensus price target of $6.18.

Weatherford International PLC (WFT) opened at 3.99 on Friday. The stock’s 50 day moving average price is $4.18 and its 200 day moving average price is $4.65. The stock’s market cap is $3.95 billion. Weatherford International PLC has a 12-month low of $3.39 and a 12-month high of $7.09.

Weatherford International PLC (NYSE:WFT) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported ($0.28) EPS for the quarter, meeting analysts’ consensus estimates of ($0.28). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.46 billion. Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.28) earnings per share. Analysts forecast that Weatherford International PLC will post ($1.04) EPS for the current fiscal year.

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In other news, VP Douglas M. Mills sold 17,500 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $4.43, for a total value of $77,525.00. Following the transaction, the vice president now directly owns 279,125 shares in the company, valued at approximately $1,236,523.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.16% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its holdings in shares of Weatherford International PLC by 6.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 400,870 shares of the oil and gas company’s stock worth $1,551,000 after purchasing an additional 24,920 shares during the period. Teachers Advisors LLC raised its holdings in shares of Weatherford International PLC by 15.9% in the 1st quarter. Teachers Advisors LLC now owns 10,031,765 shares of the oil and gas company’s stock worth $66,711,000 after purchasing an additional 1,372,563 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of Weatherford International PLC by 17.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 1,255,585 shares of the oil and gas company’s stock worth $4,859,000 after purchasing an additional 182,530 shares during the period. Swiss National Bank raised its holdings in shares of Weatherford International PLC by 3.0% in the 2nd quarter. Swiss National Bank now owns 3,403,646 shares of the oil and gas company’s stock worth $13,172,000 after purchasing an additional 98,800 shares during the period. Finally, Thrivent Financial For Lutherans raised its holdings in shares of Weatherford International PLC by 30.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 13,347,035 shares of the oil and gas company’s stock worth $51,653,000 after purchasing an additional 3,103,335 shares during the period.

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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