Weatherford International PLC (NYSE:WFT) has been assigned a $8.00 price target by investment analysts at Cowen and Company in a research report issued on Friday. The firm presently has a “buy” rating on the oil and gas company’s stock. Cowen and Company’s price objective would indicate a potential upside of 88.68% from the company’s previous close.

WFT has been the subject of a number of other reports. Morgan Stanley reaffirmed an “overweight” rating and set a $6.00 price objective (down from $12.00) on shares of Weatherford International PLC in a report on Wednesday, June 21st. Citigroup Inc. increased their price objective on shares of Weatherford International PLC from $5.30 to $5.60 and gave the company a “buy” rating in a report on Thursday. Seaport Global Securities reaffirmed a “neutral” rating on shares of Weatherford International PLC in a report on Friday, July 28th. ValuEngine lowered shares of Weatherford International PLC from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, Sanford C. Bernstein lowered shares of Weatherford International PLC from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $7.00 to $5.00 in a report on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $6.28.

Weatherford International PLC (NYSE WFT) traded down 0.70% during midday trading on Friday, reaching $4.24. 12,567,121 shares of the company’s stock were exchanged. Weatherford International PLC has a 12-month low of $3.39 and a 12-month high of $7.09. The company’s market cap is $4.19 billion. The firm has a 50-day moving average price of $4.15 and a 200 day moving average price of $4.72.

Weatherford International PLC (NYSE:WFT) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the firm posted ($0.28) EPS. The company’s revenue was down 2.8% on a year-over-year basis. On average, analysts expect that Weatherford International PLC will post ($1.04) EPS for the current fiscal year.

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In other news, VP Douglas M. Mills sold 17,500 shares of Weatherford International PLC stock in a transaction on Friday, September 15th. The stock was sold at an average price of $4.43, for a total transaction of $77,525.00. Following the completion of the sale, the vice president now directly owns 279,125 shares in the company, valued at $1,236,523.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.16% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Weatherford International PLC by 1.5% in the second quarter. Vanguard Group Inc. now owns 83,499,841 shares of the oil and gas company’s stock valued at $323,144,000 after acquiring an additional 1,203,292 shares in the last quarter. Harris Associates L P raised its holdings in shares of Weatherford International PLC by 2,166.3% in the second quarter. Harris Associates L P now owns 61,075,275 shares of the oil and gas company’s stock valued at $236,361,000 after acquiring an additional 58,380,345 shares in the last quarter. State Street Corp raised its holdings in shares of Weatherford International PLC by 3.3% in the second quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock valued at $195,718,000 after acquiring an additional 1,617,102 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Weatherford International PLC by 71.9% in the second quarter. Wedge Capital Management L L P NC now owns 29,156,413 shares of the oil and gas company’s stock valued at $112,835,000 after acquiring an additional 12,194,205 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in shares of Weatherford International PLC by 30.3% in the second quarter. Thrivent Financial For Lutherans now owns 13,347,035 shares of the oil and gas company’s stock valued at $51,653,000 after acquiring an additional 3,103,335 shares in 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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