Guggenheim Reiterates “$7.00” Price Target for Weatherford International (WFT)

Weatherford International (NYSE:WFT) received a $7.00 price target from stock analysts at Guggenheim in a note issued to investors on Monday, February 5th. The firm presently has a “buy” rating on the oil and gas company’s stock. Guggenheim’s price target would suggest a potential upside of 159.26% from the stock’s current price.

Several other research analysts have also commented on WFT. Royal Bank of Canada set a $6.00 price objective on Weatherford International and gave the stock a “buy” rating in a report on Sunday, October 8th. Deutsche Bank initiated coverage on Weatherford International in a report on Tuesday, October 10th. They set a “buy” rating and a $6.00 price objective for the company. BMO Capital Markets reissued a “buy” rating and set a $5.50 price objective on shares of Weatherford International in a report on Friday, October 13th. Zacks Investment Research lowered Weatherford International from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Seaport Global Securities raised Weatherford International from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.00 to $5.00 in a research note on Wednesday, November 1st. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $5.48.

Shares of Weatherford International (NYSE:WFT) traded down $0.04 during midday trading on Monday, hitting $2.70. The stock had a trading volume of 4,900,000 shares, compared to its average volume of 25,950,000. Weatherford International has a 52 week low of $2.62 and a 52 week high of $7.09. The company has a quick ratio of 1.33, a current ratio of 2.04 and a debt-to-equity ratio of 5.44. The stock has a market capitalization of $2,720.00, a price-to-earnings ratio of -1.63 and a beta of 2.07.

Weatherford International (NYSE:WFT) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.12). Weatherford International had a negative return on equity of 75.02% and a negative net margin of 49.36%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm posted ($0.32) EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. analysts anticipate that Weatherford International will post -0.61 EPS for the current year.

In other Weatherford International news, VP Douglas M. Mills sold 15,223 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $4.07, for a total value of $61,957.61. Following the completion of the sale, the vice president now owns 256,402 shares in the company, valued at $1,043,556.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Douglas M. Mills sold 6,072 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $4.24, for a total value of $25,745.28. Following the transaction, the vice president now owns 232,399 shares of the company’s stock, valued at approximately $985,371.76. The disclosure for this sale can be found here. Insiders sold 46,726 shares of company stock valued at $193,648 in the last quarter. Corporate insiders own 1.16% of the company’s stock.

Several institutional investors have recently made changes to their positions in WFT. Vanguard Group Inc. raised its holdings in shares of Weatherford International by 1.5% during the second quarter. Vanguard Group Inc. now owns 83,499,841 shares of the oil and gas company’s stock valued at $323,144,000 after acquiring an additional 1,203,292 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Weatherford International by 17.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,121,453 shares of the oil and gas company’s stock valued at $27,560,000 after acquiring an additional 1,065,721 shares in the last quarter. Employees Retirement System of Texas bought a new position in shares of Weatherford International during the second quarter valued at approximately $1,672,000. State Street Corp raised its holdings in shares of Weatherford International by 3.3% during the second quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock valued at $195,718,000 after acquiring an additional 1,617,102 shares in the last quarter. Finally, BlueCrest Capital Management Ltd raised its holdings in shares of Weatherford International by 79.5% during the second quarter. BlueCrest Capital Management Ltd now owns 398,307 shares of the oil and gas company’s stock valued at $1,541,000 after acquiring an additional 176,383 shares in the last quarter.

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Weatherford International Company Profile

Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.

Analyst Recommendations for Weatherford International (NYSE:WFT)

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