Weatherford International PLC’s (WFT) “Buy” Rating Reiterated at Scotiabank
Weatherford International PLC (NYSE:WFT)‘s stock had its “buy” rating reaffirmed by analysts at Scotiabank in a research report issued to clients and investors on Tuesday.
WFT has been the topic of several other reports. Piper Jaffray Companies set a $6.00 target price on Weatherford International PLC and gave the stock a “buy” rating in a research report on Saturday, July 29th. Seaport Global Securities reiterated a “neutral” rating on shares of Weatherford International PLC in a research report on Friday, July 28th. Deutsche Bank AG reiterated a “buy” rating and set a $7.00 target price (down from $8.00) on shares of Weatherford International PLC in a research report on Tuesday, May 30th. BidaskClub upgraded Weatherford International PLC from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Morgan Stanley reduced their target price on Weatherford International PLC from $6.00 to $5.50 and set an “overweight” rating on the stock in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $6.39.
Weatherford International PLC (NYSE WFT) traded up 2.37% on Tuesday, reaching $3.88. 8,310,082 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $4.12 and a 200 day moving average price of $5.08. Weatherford International PLC has a one year low of $3.39 and a one year high of $7.09. The firm’s market cap is $3.84 billion. Weatherford International PLC also was the target of some unusual options trading on Wednesday. Stock investors purchased 11,882 call options on the stock. This represents an increase of 554% compared to the average volume of 1,816 call options.
Weatherford International PLC (NYSE:WFT) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business earned ($0.28) earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts anticipate that Weatherford International PLC will post ($1.03) earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. increased its position in shares of Weatherford International PLC by 42.5% in the fourth quarter. Macquarie Group Ltd. now owns 40,000 shares of the oil and gas company’s stock worth $199,000 after buying an additional 11,932 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Weatherford International PLC by 79.6% in the first quarter. Nisa Investment Advisors LLC now owns 89,800 shares of the oil and gas company’s stock worth $597,000 after buying an additional 39,800 shares in the last quarter. First Manhattan Co. increased its position in shares of Weatherford International PLC by 276.2% in the first quarter. First Manhattan Co. now owns 79,497 shares of the oil and gas company’s stock worth $446,000 after buying an additional 58,368 shares in the last quarter. Korea Investment CORP acquired a new position in shares of Weatherford International PLC during the first quarter worth approximately $6,015,000. Finally, ProShare Advisors LLC increased its position in shares of Weatherford International PLC by 8.7% in the first quarter. ProShare Advisors LLC now owns 90,239 shares of the oil and gas company’s stock worth $600,000 after buying an additional 7,186 shares in the last quarter.
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.
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