Weatherford International (WFT) Given a $2.00 Price Target by Piper Jaffray Companies Analysts

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Weatherford International (NYSE:WFT) received a $2.00 target price from equities research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday. The firm presently has a “hold” rating on the oil and gas company’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 48.15% from the company’s previous close.

Several other research analysts have also recently commented on WFT. ValuEngine cut shares of Weatherford International from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. BMO Capital Markets set a $4.00 target price on shares of Weatherford International and gave the stock a “buy” rating in a report on Wednesday, July 11th. Zacks Investment Research cut shares of Weatherford International from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. Jefferies Financial Group set a $4.00 target price on shares of Weatherford International and gave the stock a “hold” rating in a report on Monday, July 30th. Finally, Tudor Pickering upgraded shares of Weatherford International from a “sell” rating to a “buy” rating in a report on Monday, August 20th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. Weatherford International currently has a consensus rating of “Hold” and an average price target of $3.78.

Weatherford International stock opened at $1.35 on Tuesday. The company has a market capitalization of $1.97 billion, a PE ratio of -1.16 and a beta of 2.39. Weatherford International has a twelve month low of $1.10 and a twelve 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, topping the Thomson Reuters’ 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 business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. Sell-side analysts expect that Weatherford International will post -0.57 EPS for the current fiscal year.

In other Weatherford International news, Director William E. Macaulay sold 767,591 shares of the company’s stock in a transaction on 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 directly owns 399,443 shares of the company’s stock, valued at $1,142,406.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Angela A. Minas purchased 40,000 shares of the company’s stock in a transaction on Monday, September 17th. The shares were purchased at an average cost of $2.45 per share, for a total transaction of $98,000.00. Following the completion of the transaction, the director now directly owns 102,711 shares of the company’s stock, valued at approximately $251,641.95. The disclosure for this purchase can be found here. Corporate insiders own 0.44% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Crewe Advisors LLC raised its position in Weatherford International by 100.0% during the second quarter. Crewe Advisors LLC now owns 136,846 shares of the oil and gas company’s stock worth $382,000 after acquiring an additional 68,423 shares in the last quarter. Bank of New York Mellon Corp raised its position in Weatherford International by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 4,245,369 shares of the oil and gas company’s stock worth $13,967,000 after acquiring an additional 89,037 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Weatherford International by 13.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 5,273,299 shares of the oil and gas company’s stock worth $17,350,000 after acquiring an additional 634,542 shares in the last quarter. Sustainable Insight Capital Management LLC bought a new stake in Weatherford International during the second quarter worth $720,000. Finally, GSA Capital Partners LLP bought a new stake in Weatherford International during the second quarter worth $158,000.

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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