Raymond James Analysts Give Weatherford International (WFT) a $3.00 Price Target

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Weatherford International (NYSE:WFT) has been assigned a $3.00 price target by equities researchers at Raymond James in a note issued to investors on Tuesday. The firm presently has a “buy” rating on the oil and gas company’s stock. Raymond James’ price objective would indicate a potential upside of 127.27% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Piper Jaffray Companies set a $2.00 price target on shares of Weatherford International and gave the stock a “hold” rating in a research note on Sunday, July 29th. ValuEngine raised shares of Weatherford International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Citigroup downgraded shares of Weatherford International from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $3.50 to $1.00 in a research note on Tuesday. Wolfe Research assumed coverage on shares of Weatherford International in a research note on Wednesday, October 10th. They issued a “peer perform” rating on the stock. Finally, Tudor Pickering raised shares of Weatherford International from a “sell” rating to a “buy” rating in a research note on Monday, August 20th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $4.03.

Shares of NYSE:WFT traded down $0.22 during midday trading on Tuesday, hitting $1.32. The company’s stock had a trading volume of 1,193,982 shares, compared to its average volume of 16,286,459. The company has a market cap of $1.97 billion, a P/E ratio of -1.11 and a beta of 2.38. Weatherford International has a 12-month low of $1.49 and a 12-month high of $4.41.

Weatherford International (NYSE:WFT) last posted its quarterly earnings results on Monday, October 29th. The oil and gas company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.52 billion. Weatherford International had a negative net margin of 46.44% and a negative return on equity of 283.53%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm posted ($0.22) earnings per share. As a group, analysts expect that Weatherford International will post -0.57 earnings per share for the current year.

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

Several institutional investors and hedge funds have recently made changes to their positions in the business. Berkshire Asset Management LLC PA increased its position in shares of Weatherford International by 37.2% during the second quarter. Berkshire Asset Management LLC PA now owns 55,612 shares of the oil and gas company’s stock valued at $183,000 after acquiring an additional 15,071 shares during the last quarter. State of Wisconsin Investment Board increased its position in shares of Weatherford International by 8.7% during the second quarter. State of Wisconsin Investment Board now owns 227,818 shares of the oil and gas company’s stock valued at $750,000 after acquiring an additional 18,246 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Weatherford International by 51.3% during the second quarter. Wedbush Securities Inc. now owns 59,786 shares of the oil and gas company’s stock valued at $197,000 after acquiring an additional 20,272 shares during the last quarter. Amalgamated Bank increased its position in shares of Weatherford International by 12.4% during the second quarter. Amalgamated Bank now owns 188,761 shares of the oil and gas company’s stock valued at $621,000 after acquiring an additional 20,836 shares during the last quarter. Finally, Brave Asset Management Inc. increased its position in shares of Weatherford International by 150.0% during the third quarter. Brave Asset Management Inc. now owns 40,000 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 24,000 shares during the last quarter.

About Weatherford International

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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