BidaskClub Upgrades Weatherford International PLC (WFT) to Sell

Weatherford International PLC (NYSE:WFT) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Wednesday.

A number of other brokerages have also weighed in on WFT. Scotiabank set a $6.00 target price on Weatherford International PLC and gave the stock a “hold” rating in a research note on Friday, July 7th. Deutsche Bank AG restated a “buy” rating and set a $7.00 price objective (down previously from $8.00) on shares of Weatherford International PLC in a research note on Tuesday, May 30th. Stephens restated an “underweight” rating and set a $3.75 price objective on shares of Weatherford International PLC in a research note on Monday, March 27th. BMO Capital Markets restated a “buy” rating and set a $7.00 price objective on shares of Weatherford International PLC in a research note on Tuesday, May 2nd. Finally, Jefferies Group LLC set a $6.00 price objective on Weatherford International PLC and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $6.66.

Shares of Weatherford International PLC (NYSE:WFT) traded down 2.567% during mid-day trading on Wednesday, hitting $4.365. The stock had a trading volume of 11,682,724 shares. The stock’s market capitalization is $4.30 billion. Weatherford International PLC has a 52 week low of $3.39 and a 52 week high of $7.09. The stock has a 50 day moving average of $4.12 and a 200-day moving average of $5.33.

Weatherford International PLC (NYSE:WFT) last announced its earnings results on Friday, April 28th. The oil and gas company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by $0.01. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.36 billion. Weatherford International PLC had a negative return on equity of 47.36% and a negative net margin of 60.22%. Weatherford International PLC’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.29) EPS. On average, equities research analysts predict that Weatherford International PLC will post ($1.00) earnings per share for the current year.

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In other news, VP Douglas M. Mills sold 17,500 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $5.19, for a total value of $90,825.00. Following the transaction, the vice president now owns 296,625 shares of the company’s stock, valued at $1,539,483.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sippican Capital Advisors raised its position in shares of Weatherford International PLC by 11.9% in the first quarter. Sippican Capital Advisors now owns 278,740 shares of the oil and gas company’s stock valued at $1,854,000 after buying an additional 29,655 shares during the period. Factory Mutual Insurance Co. raised its stake in Weatherford International PLC by 96.1% in the first quarter. Factory Mutual Insurance Co. now owns 1,979,700 shares of the oil and gas company’s stock valued at $13,166,000 after buying an additional 970,000 shares during the last quarter. Roanoke Asset Management Corp NY raised its stake in Weatherford International PLC by 20.6% in the first quarter. Roanoke Asset Management Corp NY now owns 304,182 shares of the oil and gas company’s stock valued at $2,023,000 after buying an additional 51,870 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in 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 valued at $597,000 after buying an additional 39,800 shares during the last quarter. Finally, Doyle Wealth Management acquired a new stake in Weatherford International PLC during the first quarter valued at about $6,714,000.

Weatherford International PLC 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.

Analyst Recommendations for Weatherford International PLC (NYSE:WFT)

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