Weatherford International Ltd. (NYSE:WFT) had its price objective hoisted by investment analysts at Citigroup Inc. from $7.00 to $8.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock. Citigroup Inc.’s price target would suggest a potential upside of 34.00% from the company’s previous close.
Several other equities analysts have also recently weighed in on WFT. Jefferies Group reiterated a “buy” rating and set a $8.00 price objective on shares of Weatherford International in a report on Sunday, July 10th. Bank of America Corp. assumed coverage on Weatherford International in a report on Monday, June 13th. They set an “underperform” rating on the stock. Seaport Global Securities reiterated a “buy” rating on shares of Weatherford International in a report on Friday, August 19th. Imperial Capital assumed coverage on Weatherford International in a report on Friday, June 24th. They set an “in-line” rating and a $7.00 price objective on the stock. Finally, Nomura set a $10.00 price objective on Weatherford International and gave the company a “buy” rating in a report on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $8.83.
Weatherford International (NYSE:WFT) opened at 5.97 on Tuesday. Weatherford International has a one year low of $4.71 and a one year high of $11.49. The stock has a 50 day moving average price of $5.72 and a 200-day moving average price of $6.13. The firm’s market cap is $5.35 billion.
Weatherford International (NYSE:WFT) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.02. Weatherford International had a negative return on equity of 13.41% and a negative net margin of 33.73%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business posted ($0.10) EPS. Weatherford International’s revenue for the quarter was down 41.3% on a year-over-year basis. Analysts predict that Weatherford International will post $2.45 EPS for the current fiscal year.
In other news, VP Douglas M. Mills sold 12,500 shares of the business’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $5.97, for a total transaction of $74,625.00. Following the completion of the transaction, the vice president now owns 223,933 shares of the company’s stock, valued at approximately $1,336,880.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of WFT. CIBC Asset Management Inc boosted its position in Weatherford International by 3.5% in the second quarter. CIBC Asset Management Inc now owns 19,189 shares of the company’s stock worth $106,000 after buying an additional 647 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Weatherford International by 29.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 19,011 shares of the company’s stock worth $106,000 after buying an additional 4,295 shares during the period. Baird Financial Group Inc. boosted its position in Weatherford International by 35.8% in the second quarter. Baird Financial Group Inc. now owns 18,220 shares of the company’s stock worth $109,000 after buying an additional 4,800 shares during the period. Bessemer Group Inc. boosted its position in Weatherford International by 90.4% in the second quarter. Bessemer Group Inc. now owns 20,989 shares of the company’s stock worth $116,000 after buying an additional 9,967 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Weatherford International during the second quarter worth approximately $119,000. 97.21% of the stock is owned by institutional investors.
Weatherford International Company Profile
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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