Weatherford International PLC (NYSE: WFT) recently received a number of ratings updates from brokerages and research firms:

  • 8/3/2017 – Weatherford International PLC had its price target raised by analysts at BMO Capital Markets from $4.75 to $5.50. They now have an “outperform” rating on the stock.
  • 8/2/2017 – Weatherford International PLC was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Weatherford enjoys a leading position in the global oilfield services market. Its broad and technologically complex product/service offerings and growing presence in the Eastern Hemisphere are also encouraging. We appreciate the company’s cost-cutting initiatives, such as reduced headcount, consolidating facilities, to counter the prolonged oil price weakness. Despite these efforts, the company’s second quarter revenue missed the Zacks Consensus Estimate. The company’s price chart also underperformed the broader market indices over the last three months. Volatile gas prices also remain a drag. Given these headwinds, we expect shares of Weatherford to be under pressure in the near future. Moreover, Weatherford’s debt-heavy balance sheet and weakness in generating free cash are other concerns.”
  • 8/1/2017 – Weatherford International PLC had its “buy” rating reaffirmed by analysts at Credit Suisse Group. They now have a $6.00 price target on the stock.
  • 8/1/2017 – Weatherford International PLC was given a new $6.00 price target on by analysts at Scotiabank. They now have a “hold” rating on the stock.
  • 7/29/2017 – Weatherford International PLC was given a new $6.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 7/28/2017 – Weatherford International PLC had its “neutral” rating reaffirmed by analysts at Seaport Global Securities.
  • 7/19/2017 – Weatherford International PLC was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/13/2017 – Weatherford International PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Weatherford International Ltd.’s price chart underperformed the broader market indices over the last three months. The company’s debt-heavy balance sheet and inadequate cash balances are other concerns. The debt increased by  nearly 30% during 2016 with little sign of reduction during the first quarter. Further, cash balance plunged by over 47% during Q1. This reflects the weakness of its balance sheet. Moreover, the credit ratings of the company’s bonds were downgraded by multiple credit rating agencies in 2016.  Given high debt load and weak credit ratings we think that Weatherford might face difficulties in generating debt capital for financing future growth projects. Volatile gas prices also remain a drag. Under these headwinds, we expect shares of Weatherford to be under pressure in the near future.”
  • 7/13/2017 – Weatherford International PLC had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $4.75 price target on the stock, down previously from $7.00.
  • 7/7/2017 – Weatherford International PLC was given a new $6.00 price target on by analysts at Scotiabank. They now have a “hold” rating on the stock.
  • 7/6/2017 – Weatherford International PLC was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating. They now have a $5.00 price target on the stock, down previously from $7.00.
  • 7/6/2017 – Weatherford International PLC had its “buy” rating reaffirmed by analysts at UBS AG. They now have a $6.00 price target on the stock, down previously from $8.00.
  • 6/24/2017 – Weatherford International PLC was given a new $8.00 price target on by analysts at Royal Bank Of Canada. They now have a “buy” rating on the stock.
  • 6/21/2017 – Weatherford International PLC was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $6.00 price target on the stock, down previously from $7.00.
  • 6/21/2017 – Weatherford International PLC was downgraded by analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating. They now have a $4.00 price target on the stock, down previously from $7.00.
  • 6/21/2017 – Weatherford International PLC had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $6.00 price target on the stock, down previously from $12.00.

Shares of Weatherford International PLC (WFT) opened at 4.35 on Monday. Weatherford International PLC has a 52-week low of $3.39 and a 52-week high of $7.09. The stock’s 50 day moving average price is $4.08 and its 200-day moving average price is $5.26. The company’s market capitalization is $4.30 billion.

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

In other Weatherford International PLC news, VP Douglas M. Mills sold 17,500 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $5.19, for a total value of $90,825.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

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.

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