Weatherford International plc Price Target Raised to $23.00 at Goldman Sachs (WFT)
Research analysts at Goldman Sachs lifted their price objective on shares of Weatherford International plc (NYSE:WFT) from $20.50 to $23.00 in a report released on Thursday. Goldman Sachs’ target price would indicate a potential upside of 4.07% from the company’s current price.
Weatherford International plc (NYSE:WFT) traded down 1.73% during mid-day trading on Thursday, hitting $22.10. 7,759,359 shares of the company’s stock traded hands. Weatherford International plc has a one year low of $13.07 and a one year high of $23.25. The stock’s 50-day moving average is $22.27 and its 200-day moving average is $18.10. The company’s market cap is $17.075 billion.
Weatherford International plc (NYSE:WFT) last announced its earnings results on Thursday, April 24th. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.02. The company had revenue of $3.60 million for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts predict that Weatherford International plc will post $1.08 earnings per share for the current fiscal year.
WFT has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Weatherford International plc from a “neutral” rating to an “outperform” rating in a research note on Monday. They now have a $27.00 price target on the stock. Separately, analysts at Susquehanna raised their price target on shares of Weatherford International plc from $21.00 to $24.00 in a research note on Wednesday, July 2nd. Finally, analysts at Drexel Hamilton initiated coverage on shares of Weatherford International plc in a research note on Friday, June 20th. They set a “hold” rating and a $23.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $22.78.
In other Weatherford International plc news, SVP William B. Jacobson sold 27,234 shares of the stock on the open market in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $22.78, for a total transaction of $620,390.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Weatherford International Ltd. (NYSE:WFT) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells.
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