Weatherford International plc (NYSE:WFT) Receives $1.81 Average Price Target from Brokerages
Shares of Weatherford International plc (NYSE:WFT) have been given a consensus recommendation of “Hold” by the nineteen ratings firms that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $1.81.
A number of research analysts have recently issued reports on WFT shares. Credit Suisse Group cut shares of Weatherford International from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 14th. Wells Fargo & Co cut shares of Weatherford International to a “sell” rating in a research note on Tuesday, May 14th.
Hedge funds have recently bought and sold shares of the stock. Jaffetilchin Investment Partners LLC grew its stake in Weatherford International by 314.6% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 189,974 shares of the oil and gas company’s stock worth $133,000 after buying an additional 144,148 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Weatherford International by 38.0% in the 1st quarter. OppenheimerFunds Inc. now owns 21,763,021 shares of the oil and gas company’s stock worth $15,190,000 after buying an additional 5,992,358 shares in the last quarter. Schneider Capital Management Corp grew its stake in Weatherford International by 1.8% in the 1st quarter. Schneider Capital Management Corp now owns 15,663,470 shares of the oil and gas company’s stock worth $10,933,000 after buying an additional 283,349 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Weatherford International by 5,683.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 356,811 shares of the oil and gas company’s stock worth $249,000 after buying an additional 350,642 shares in the last quarter. Finally, Fiera Capital Corp purchased a new position in Weatherford International in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 85.48% of the company’s stock.
About Weatherford International
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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