Weatherford International PLC (WFT) Given a $6.00 Price Target by Royal Bank Of Canada Analysts

Weatherford International PLC (NYSE:WFT) has been assigned a $6.00 price objective by analysts at Royal Bank Of Canada in a research note issued to investors on Sunday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 41.51% from the stock’s current price.

A number of other equities analysts have also commented on WFT. BidaskClub lowered Weatherford International PLC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Citigroup Inc. raised their price objective on Weatherford International PLC from $5.30 to $5.60 and gave the stock a “buy” rating in a research note on Thursday. Cowen and Company set a $8.00 price objective on Weatherford International PLC and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research upgraded Weatherford International PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC set a $5.00 price objective on Weatherford International PLC and gave the stock a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $6.22.

Weatherford International PLC (NYSE:WFT) traded down 0.70% during mid-day trading on Friday, hitting $4.24. The stock had a trading volume of 12,567,121 shares. Weatherford International PLC has a one year low of $3.39 and a one year high of $7.09. The stock’s 50 day moving average price is $4.16 and its 200 day moving average price is $4.71. The firm’s market capitalization is $4.19 billion.

Weatherford International PLC (NYSE:WFT) last announced its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.28). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.46 billion. Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.28) earnings per share. Analysts forecast that Weatherford International PLC will post ($1.04) EPS for the current year.

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In related news, VP Douglas M. Mills sold 17,500 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $4.43, for a total transaction of $77,525.00. Following the sale, the vice president now owns 279,125 shares of the company’s stock, valued at approximately $1,236,523.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.16% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Laurion Capital Management LP acquired a new position in Weatherford International PLC during the 1st quarter worth about $109,000. Two Sigma Securities LLC lifted its holdings in Weatherford International PLC by 14.5% during the 1st quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock worth $117,000 after buying an additional 2,238 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Weatherford International PLC by 1.5% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 33,000 shares of the oil and gas company’s stock worth $128,000 after buying an additional 500 shares during the period. Driehaus Capital Management LLC acquired a new position in Weatherford International PLC during the 1st quarter worth about $129,000. Finally, Crawford Investment Counsel Inc. lifted its holdings in Weatherford International PLC by 68.8% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 36,797 shares of the oil and gas company’s stock worth $142,000 after buying an additional 15,000 shares during the period.

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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