Weatherford International (WFT) Rating Lowered to Sell at Wells Fargo & Co

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Wells Fargo & Co lowered shares of Weatherford International (NYSE:WFT) to a sell rating in a research report sent to investors on Tuesday morning, AnalystRatings.com reports.

Other analysts also recently issued reports about the stock. Capital One Financial downgraded shares of Weatherford International from an overweight rating to an equal weight rating in a research report on Wednesday, January 16th. Zacks Investment Research raised shares of Weatherford International from a sell rating to a hold rating in a research report on Monday, January 28th. Griffin Securities reissued a buy rating on shares of Weatherford International in a research report on Wednesday, February 27th. Finally, Credit Suisse Group downgraded shares of Weatherford International from an outperform rating to a neutral rating in a research report on Tuesday. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $1.63.

WFT stock opened at $0.05 on Tuesday. The company has a market capitalization of $53.81 million, a price-to-earnings ratio of -0.09 and a beta of 2.11. Weatherford International has a 12 month low of $0.22 and a 12 month high of $3.75.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Weatherford International by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 85,521,323 shares of the oil and gas company’s stock worth $231,762,000 after buying an additional 947,228 shares during the period. Perella Weinberg Partners Capital Management LP boosted its holdings in shares of Weatherford International by 48.3% during the 4th quarter. Perella Weinberg Partners Capital Management LP now owns 34,476,124 shares of the oil and gas company’s stock worth $19,272,000 after buying an additional 11,221,106 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Weatherford International by 8.1% during the 4th quarter. Van ECK Associates Corp now owns 27,331,719 shares of the oil and gas company’s stock worth $15,278,000 after buying an additional 2,047,074 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Weatherford International by 241.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,093,590 shares of the oil and gas company’s stock worth $15,422,000 after buying an additional 15,618,681 shares during the period. Finally, OppenheimerFunds Inc. boosted its holdings in shares of Weatherford International by 38.0% during 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 during the period. 85.48% of the stock is owned by institutional investors and hedge funds.

Weatherford International Company Profile

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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Analyst Recommendations for Weatherford International (NYSE:WFT)

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