Weatherford International plc (WFT) Receives Average Rating of “Hold” from Analysts
Shares of Weatherford International plc (NYSE:WFT) have been given a consensus rating of “Hold” by the twenty analysts that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $1.72.
A number of research analysts have recently issued reports on WFT shares. Zacks Investment Research upgraded Weatherford International from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Credit Suisse Group reiterated a “buy” rating and issued a $1.00 price target on shares of Weatherford International in a report on Sunday, February 3rd. Griffin Securities reiterated a “buy” rating on shares of Weatherford International in a report on Wednesday, February 27th. Wells Fargo & Co reiterated a “hold” rating on shares of Weatherford International in a report on Sunday, January 6th. Finally, Raymond James reiterated a “sell” rating on shares of Weatherford International in a report on Monday, December 17th.
A number of hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV purchased a new position in Weatherford International during the 1st quarter worth $41,000. Geode Capital Management LLC grew its stake in Weatherford International by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 9,359,986 shares of the oil and gas company’s stock worth $5,232,000 after buying an additional 286,405 shares during the last quarter. Norges Bank purchased a new position in Weatherford International during the 4th quarter worth $3,033,000. UBS Oconnor LLC purchased a new position in Weatherford International during the 4th quarter worth $140,000. Finally, HRT Financial LLC grew its stake in Weatherford International by 30.5% during the 4th quarter. HRT Financial LLC now owns 51,028 shares of the oil and gas company’s stock worth $28,000 after buying an additional 11,936 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.
Weatherford International (NYSE:WFT) last announced its quarterly earnings results on Friday, February 1st. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.02). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the company earned ($0.33) EPS. Equities analysts anticipate that Weatherford International will post -0.36 EPS for the current year.
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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