Weatherford International Ltd. (NYSE:WFT) has earned an average recommendation of “Buy” from the thirty-four brokerages that are presently covering the firm. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, twenty-one have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $8.89.
A number of equities analysts have weighed in on WFT shares. Vetr downgraded shares of Weatherford International from a “strong-buy” rating to a “buy” rating and set a $6.95 target price for the company. in a research note on Monday, June 27th. Jefferies Group reaffirmed a “buy” rating and issued a $7.00 target price (down from $8.00) on shares of Weatherford International in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $9.00 target price on shares of Weatherford International in a research note on Friday, July 29th. Citigroup Inc. boosted their target price on shares of Weatherford International from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, June 14th. Finally, Nomura set a $10.00 price target on shares of Weatherford International and gave the stock a “buy” rating in a research note on Tuesday, August 16th.
Shares of Weatherford International (NYSE:WFT) opened at 5.71 on Monday. The firm’s market cap is $5.12 billion. Weatherford International has a 52 week low of $4.71 and a 52 week high of $11.49. The firm’s 50 day moving average is $5.69 and its 200-day moving average is $6.17.
Weatherford International (NYSE:WFT) last announced its earnings results on Wednesday, July 27th. The company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.02. Weatherford International had a negative net margin of 33.73% and a negative return on equity of 13.41%. The company earned $1.40 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm posted ($0.10) earnings per share. The company’s revenue was down 41.3% on a year-over-year basis. Equities research analysts predict that Weatherford International will post $2.45 EPS for the current year.
Several institutional investors have recently modified their holdings of the stock. Dodge & Cox raised its position in shares of Weatherford International by 9.0% in the first quarter. Dodge & Cox now owns 81,021,617 shares of the company’s stock valued at $630,348,000 after buying an additional 6,695,940 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Weatherford International by 5.4% in the second quarter. Vanguard Group Inc. now owns 68,298,516 shares of the company’s stock valued at $379,057,000 after buying an additional 3,504,828 shares during the last quarter. State Street Corp raised its position in shares of Weatherford International by 36.9% in the first quarter. State Street Corp now owns 26,567,174 shares of the company’s stock valued at $206,692,000 after buying an additional 7,166,608 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Weatherford International by 8.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 22,982,502 shares of the company’s stock valued at $127,553,000 after buying an additional 1,720,016 shares during the last quarter. Finally, Orbis Allan Gray Ltd bought a new position in shares of Weatherford International during the first quarter valued at $130,340,000. 97.21% of the stock is currently owned by institutional investors.
About Weatherford International
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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