Morgan Stanley Analysts Give Weatherford International (WFT) a $3.00 Price Target

Morgan Stanley set a $3.00 target price on Weatherford International (NYSE:WFT) in a research note issued to investors on Tuesday morning. The firm currently has a hold rating on the oil and gas company’s stock.

Other analysts have also recently issued research reports about the stock. Piper Jaffray Companies set a $2.00 target price on shares of Weatherford International and gave the company a hold rating in a report on Sunday, July 29th. ValuEngine raised Weatherford International from a sell rating to a hold rating in a research report on Tuesday, August 7th. Tudor Pickering raised Weatherford International from a sell rating to a buy rating in a research report on Monday, August 20th. Wolfe Research started coverage on Weatherford International in a research report on Wednesday, October 10th. They issued a peer perform rating for the company. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $2.50 price target on shares of Weatherford International in a research report on Wednesday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $3.50.

Shares of WFT stock opened at $1.13 on Tuesday. Weatherford International has a 12 month low of $1.09 and a 12 month high of $4.41.

Weatherford International (NYSE:WFT) last announced its earnings results on Monday, October 29th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.03. Weatherford International had a negative net margin of 45.58% and a negative return on equity of 283.53%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business posted ($0.22) EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Research analysts expect that Weatherford International will post -0.57 earnings per share for the current year.

In other Weatherford International news, Director Angela A. Minas bought 40,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was acquired at an average price of $2.45 per share, with a total value of $98,000.00. Following the transaction, the director now owns 102,711 shares in the company, valued at $251,641.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William E. Macaulay sold 767,591 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $2.86, for a total value of $2,195,310.26. Following the completion of the transaction, the director now directly owns 399,443 shares of the company’s stock, valued at approximately $1,142,406.98. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of WFT. FMR LLC raised its position in Weatherford International by 37.8% in the 2nd quarter. FMR LLC now owns 12,460,897 shares of the oil and gas company’s stock worth $40,996,000 after buying an additional 3,415,343 shares during the last quarter. Poplar Forest Capital LLC raised its position in Weatherford International by 38.7% in the 3rd quarter. Poplar Forest Capital LLC now owns 9,733,959 shares of the oil and gas company’s stock worth $26,379,000 after buying an additional 2,713,638 shares during the last quarter. Perella Weinberg Partners Capital Management LP raised its position in Weatherford International by 8.6% in the 3rd quarter. Perella Weinberg Partners Capital Management LP now owns 23,255,018 shares of the oil and gas company’s stock worth $63,021,000 after buying an additional 1,835,110 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Weatherford International by 5.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 34,487,196 shares of the oil and gas company’s stock worth $93,460,000 after buying an additional 1,829,806 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. raised its position in Weatherford International by 1,191.7% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 1,860,000 shares of the oil and gas company’s stock worth $5,041,000 after buying an additional 1,716,000 shares during the last quarter.

Weatherford International Company Profile

Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.

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Analyst Recommendations for Weatherford International (NYSE:WFT)

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