Weatherford International (NYSE:WFT) Earns Buy Rating from Seaport Global Securities

Weatherford International (NYSE:WFT)‘s stock had its “buy” rating reaffirmed by stock analysts at Seaport Global Securities in a report issued on Monday, February 5th. They currently have a $6.00 price objective on the oil and gas company’s stock. Seaport Global Securities’ target price would suggest a potential upside of 121.40% from the stock’s current price. Seaport Global Securities also issued estimates for Weatherford International’s Q1 2018 earnings at ($0.23) EPS, Q2 2018 earnings at ($0.20) EPS, Q3 2018 earnings at ($0.13) EPS, Q4 2018 earnings at ($0.07) EPS, FY2018 earnings at ($0.63) EPS, Q1 2019 earnings at ($0.08) EPS, Q3 2019 earnings at $0.01 EPS, Q4 2019 earnings at $0.03 EPS and FY2019 earnings at ($0.05) EPS.

Other research analysts have also issued research reports about the company. BMO Capital Markets reiterated a “hold” rating on shares of Weatherford International in a report on Thursday, January 25th. Cowen reissued a “buy” rating and set a $6.00 price objective on shares of Weatherford International in a research report on Monday, February 5th. Tudor Pickering downgraded Weatherford International from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Morgan Stanley dropped their target price on Weatherford International from $5.50 to $5.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada set a $6.00 target price on Weatherford International and gave the company a “buy” rating in a research report on Sunday, October 8th. Six research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $5.48.

Shares of Weatherford International (NYSE:WFT) traded down $0.03 during trading hours on Monday, hitting $2.71. The stock had a trading volume of 5,335,883 shares, compared to its average volume of 26,700,184. Weatherford International has a 52-week low of $2.62 and a 52-week high of $7.09. The stock has a market cap of $2,720.00, a price-to-earnings ratio of -1.63 and a beta of 2.07. The company has a quick ratio of 1.33, a current ratio of 2.04 and a debt-to-equity ratio of 5.44.

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

In other Weatherford International news, VP Douglas M. Mills sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total transaction of $28,125.00. Following the completion of the sale, the vice president now owns 271,625 shares in the company, valued at approximately $1,018,593.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Douglas M. Mills sold 15,223 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $4.07, for a total value of $61,957.61. Following the sale, the vice president now owns 256,402 shares of the company’s stock, valued at approximately $1,043,556.14. The disclosure for this sale can be found here. Insiders have sold 46,726 shares of company stock valued at $193,648 over the last 90 days. 1.16% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Kazazian Asset Management LLC bought a new position in Weatherford International during the 4th quarter worth approximately $389,000. Verition Fund Management LLC bought a new position in Weatherford International during the 4th quarter worth approximately $510,000. Luminus Management LLC bought a new position in Weatherford International during the 4th quarter worth approximately $1,126,000. Two Sigma Securities LLC lifted its holdings in Weatherford International by 989.0% during the 4th quarter. Two Sigma Securities LLC now owns 139,375 shares of the oil and gas company’s stock worth $581,000 after buying an additional 126,577 shares during the last quarter. Finally, Sapience Investments LLC lifted its holdings in Weatherford International by 610.2% during the 4th quarter. Sapience Investments LLC now owns 2,985,660 shares of the oil and gas company’s stock worth $12,450,000 after buying an additional 2,565,240 shares during 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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