Weatherford International (WFT) Given a $3.00 Price Target at BMO Capital Markets

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BMO Capital Markets set a $3.00 price target on Weatherford International (NYSE:WFT) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the oil and gas company’s stock.

Other analysts have also issued reports about the company. Credit Suisse Group set a $4.00 price objective on Weatherford International and gave the stock a buy rating in a research report on Tuesday, October 30th. Raymond James set a $3.00 price objective on Weatherford International and gave the stock a buy rating in a research report on Tuesday, October 30th. Tudor Pickering upgraded Weatherford International from a sell rating to a buy rating in a research report on Monday, August 20th. Morgan Stanley started coverage on Weatherford International in a research report on Tuesday, September 18th. They issued an equal weight rating and a $4.00 price objective for the company. Finally, ValuEngine upgraded Weatherford International from a sell rating to a hold rating in a research report on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $3.50.

Shares of NYSE:WFT opened at $1.32 on Tuesday. Weatherford International has a twelve month low of $1.10 and a twelve month high of $4.41. The firm has a market capitalization of $1.24 billion, a PE ratio of -1.14 and a beta of 2.84.

Weatherford International (NYSE:WFT) last announced its earnings results on Monday, October 29th. The oil and gas company reported ($0.10) earnings per share for the quarter, beating 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 company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted ($0.22) earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts predict that Weatherford International will post -0.57 EPS for the current year.

In other Weatherford International news, Director William E. Macaulay sold 767,591 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $2.86, for a total transaction of $2,195,310.26. Following the transaction, the director now owns 399,443 shares in the company, valued at $1,142,406.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 price of $2.45 per share, for a total transaction of $98,000.00. Following the acquisition, the director now owns 102,711 shares of the company’s stock, valued at approximately $251,641.95. The disclosure for this purchase can be found here. 0.44% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in WFT. Brave Asset Management Inc. lifted its holdings in shares of Weatherford International by 150.0% during the 3rd quarter. Brave Asset Management Inc. now owns 40,000 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 24,000 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Weatherford International during the 2nd quarter valued at about $119,000. GSA Capital Partners LLP bought a new position in shares of Weatherford International during the 2nd quarter valued at about $158,000. Private Advisor Group LLC lifted its holdings in shares of Weatherford International by 295.3% during the 3rd quarter. Private Advisor Group LLC now owns 64,049 shares of the oil and gas company’s stock valued at $174,000 after purchasing an additional 47,848 shares in the last quarter. Finally, Berkshire Asset Management LLC PA lifted its holdings in shares of Weatherford International by 37.2% during the 2nd quarter. Berkshire Asset Management LLC PA now owns 55,612 shares of the oil and gas company’s stock valued at $183,000 after purchasing an additional 15,071 shares in 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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