Seaport Global Securities Comments on Weatherford International Plc’s Q3 2019 Earnings (WFT)

Weatherford International Plc (NYSE:WFT) – Equities research analysts at Seaport Global Securities cut their Q3 2019 EPS estimates for Weatherford International in a note issued to investors on Monday. Seaport Global Securities analyst M. Urban now expects that the oil and gas company will post earnings of $0.01 per share for the quarter, down from their prior estimate of $0.03. Seaport Global Securities has a “Buy” rating and a $6.00 price target on the stock. Seaport Global Securities also issued estimates for Weatherford International’s Q4 2019 earnings at $0.03 EPS.

Several other equities research analysts have also issued reports on the company. Credit Suisse Group dropped their price target on Weatherford International from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Tuesday. Loop Capital set a $5.00 price target on Weatherford International and gave the stock a “buy” rating in a research note on Tuesday. Guggenheim set a $7.00 price target on Weatherford International and gave the stock a “buy” rating in a research note on Monday. Bank of America dropped their price target on Weatherford International from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Cowen reissued a “buy” rating and issued a $6.00 target price on shares of Weatherford International in a research note on Monday. Six analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $5.59.

Shares of Weatherford International (NYSE:WFT) traded down $0.06 during mid-day trading on Tuesday, reaching $2.87. The company’s stock had a trading volume of 56,176,681 shares, compared to its average volume of 26,862,227. The company has a debt-to-equity ratio of 5.44, a quick ratio of 1.33 and a current ratio of 2.04. Weatherford International has a 52-week low of $2.63 and a 52-week high of $7.09. The company has a market capitalization of $2,910.00, a price-to-earnings ratio of -1.71 and a beta of 2.07.

Weatherford International (NYSE:WFT) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.12). Weatherford International had a negative return on equity of 75.02% and a negative net margin of 49.36%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm earned ($0.32) EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis.

Several hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas grew its holdings in shares of Weatherford International by 658.4% during the 4th quarter. Teacher Retirement System of Texas now owns 324,980 shares of the oil and gas company’s stock worth $1,355,000 after acquiring an additional 282,132 shares during the period. Aperio Group LLC increased its stake in Weatherford International by 10.8% in the 4th quarter. Aperio Group LLC now owns 169,133 shares of the oil and gas company’s stock worth $705,000 after buying an additional 16,437 shares in the last quarter. Comerica Bank increased its stake in Weatherford International by 31.9% in the 4th quarter. Comerica Bank now owns 1,647,597 shares of the oil and gas company’s stock worth $7,035,000 after buying an additional 398,021 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Weatherford International in the 4th quarter worth $391,000. Finally, Wedge Capital Management L L P NC increased its stake in Weatherford International by 13.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 31,579,597 shares of the oil and gas company’s stock worth $131,687,000 after buying an additional 3,744,073 shares in the last quarter.

In other Weatherford International news, VP Douglas M. Mills sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total transaction of $28,125.00. Following the transaction, the vice president now owns 271,625 shares in the company, valued at approximately $1,018,593.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Douglas M. Mills sold 6,072 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $4.24, for a total value of $25,745.28. Following the transaction, the vice president now owns 232,399 shares in the company, valued at approximately $985,371.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,726 shares of company stock worth $193,648. 1.16% of the stock is owned by company insiders.

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Weatherford International Company Profile

Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.

Earnings History and Estimates for Weatherford International (NYSE:WFT)

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