Weatherford International plc (NYSE:WFT) – Research analysts at SunTrust Banks issued their FY2020 earnings estimates for shares of Weatherford International in a research report issued on Monday, October 29th. SunTrust Banks analyst K. Sill anticipates that the oil and gas company will post earnings of $0.17 per share for the year.
A number of other equities research analysts also recently commented on the company. Morgan Stanley started coverage on Weatherford International in a report on Tuesday, September 18th. They set an “equal weight” rating and a $4.00 target price for the company. Tudor Pickering raised Weatherford International from a “sell” rating to a “buy” rating in a report on Monday, August 20th. Stifel Nicolaus started coverage on Weatherford International in a report on Monday, September 10th. They set a “hold” rating and a $3.00 target price for the company. Raymond James set a $3.00 target price on Weatherford International and gave the stock a “buy” rating in a report on Tuesday. Finally, Bank of America started coverage on Weatherford International in a report on Wednesday, October 17th. They set an “underperform” rating for the company. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $3.81.
Weatherford International (NYSE:WFT) last released its earnings results on Monday, October 29th. The oil and gas company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.03. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.58%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company posted ($0.22) earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year.
In related news, Director Angela A. Minas purchased 40,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was bought at an average cost of $2.45 per share, with a total value of $98,000.00. Following the completion of the acquisition, the director now owns 102,711 shares of the company’s stock, valued at approximately $251,641.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William E. Macaulay sold 767,591 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The shares were 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 $1,142,406.98. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.
Several institutional investors have recently bought and sold shares of WFT. Brave Asset Management Inc. increased its position in shares of Weatherford International by 150.0% in 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 buying an additional 24,000 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Weatherford International in the second quarter valued at approximately $119,000. GSA Capital Partners LLP purchased a new stake in shares of Weatherford International in the second quarter valued at approximately $158,000. Berkshire Asset Management LLC PA increased its position in shares of Weatherford International by 37.2% in 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 buying an additional 15,071 shares in the last quarter. Finally, Wedbush Securities Inc. increased its position in shares of Weatherford International by 51.3% in the second quarter. Wedbush Securities Inc. now owns 59,786 shares of the oil and gas company’s stock valued at $197,000 after buying an additional 20,272 shares in 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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