Weatherford International PLC (NYSE:WFT) had its price objective reduced by Morgan Stanley from $6.00 to $5.50 in a note issued to investors on Monday. The firm currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s target price suggests a potential upside of 26.44% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Sanford C. Bernstein cut shares of Weatherford International PLC from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $7.00 to $5.00 in a report on Thursday, July 6th. Deutsche Bank AG restated a “buy” rating and issued a $7.00 target price (down previously from $8.00) on shares of Weatherford International PLC in a report on Tuesday, May 30th. Goldman Sachs Group, Inc. (The) downgraded shares of Weatherford International PLC from a “buy” rating to a “neutral” rating and set a $7.25 price target on the stock. in a research report on Tuesday, April 18th. Scotiabank set a $6.00 price target on shares of Weatherford International PLC and gave the stock a “hold” rating in a research report on Monday, May 1st. Finally, UBS AG reiterated a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of Weatherford International PLC in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Weatherford International PLC currently has an average rating of “Buy” and a consensus target price of $6.52.

Shares of Weatherford International PLC (NYSE:WFT) traded down 2.184% during midday trading on Monday, reaching $4.255. 5,673,280 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $4.08 and a 200-day moving average of $5.26. Weatherford International PLC has a one year low of $3.39 and a one year high of $7.09. The stock’s market cap is $4.21 billion.

Weatherford International PLC (NYSE:WFT) last issued its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.28). Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company posted ($0.28) earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities research analysts anticipate that Weatherford International PLC will post ($1.03) earnings per share for the current year.

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In related news, VP Douglas M. Mills sold 17,500 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $5.19, for a total transaction of $90,825.00. Following the completion of the transaction, the vice president now directly owns 296,625 shares of the company’s stock, valued at $1,539,483.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

A number of institutional investors have recently bought and sold shares of WFT. Baldwin Brothers Inc. MA acquired a new position in Weatherford International PLC during the first quarter worth about $100,000. Sumitomo Mitsui Asset Management Company LTD boosted its position in Weatherford International PLC by 13.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,982 shares of the oil and gas company’s stock worth $106,000 after buying an additional 1,899 shares during the last quarter. Laurion Capital Management LP acquired a new position in Weatherford International PLC during the first quarter worth about $109,000. BKD Wealth Advisors LLC boosted its position in Weatherford International PLC by 9.5% in the first quarter. BKD Wealth Advisors LLC now owns 16,884 shares of the oil and gas company’s stock worth $112,000 after buying an additional 1,471 shares during the last quarter. Finally, Two Sigma Securities LLC boosted its position in Weatherford International PLC by 14.5% in the first quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock worth $117,000 after buying an additional 2,238 shares during the last quarter.

About Weatherford International PLC

Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.

Analyst Recommendations for Weatherford International PLC (NYSE:WFT)

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