Shares of Weatherford International plc (NYSE:WFT) have been given a consensus recommendation of “Hold” by the nineteen analysts that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $1.81.
A number of brokerages recently weighed in on WFT. Credit Suisse Group downgraded shares of Weatherford International from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 14th. Wells Fargo & Co downgraded shares of Weatherford International to a “sell” rating in a research report on Tuesday, May 14th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Oakbrook Investments LLC bought a new position in Weatherford International in the 1st quarter worth about $29,000. Icon Wealth Partners LLC bought a new position in Weatherford International in the 1st quarter worth about $33,000. Fiera Capital Corp bought a new position in Weatherford International in the 1st quarter worth about $37,000. Mercer Global Advisors Inc. ADV bought a new position in Weatherford International in the 1st quarter worth about $41,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Weatherford International by 95.8% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 69,500 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 34,000 shares during the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.
Weatherford International Company Profile
Weatherford International plc, an oilfield service company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. The company operates in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing and fluid systems, cementing, and coiled-tubing intervention; and drill stem test tools, and surface well testing and multiphase flow measurement services.
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