Societe Generale Upgrades Weatherford International PLC (WFT) to “Buy”
Weatherford International PLC (NYSE:WFT) was upgraded by research analysts at Societe Generale from a “hold” rating to a “buy” rating in a report issued on Thursday, The Fly reports.
A number of other research firms have also weighed in on WFT. BMO Capital Markets raised their target price on Weatherford International PLC from $4.75 to $5.50 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Scotiabank set a $6.00 price target on Weatherford International PLC and gave the stock a “hold” rating in a report on Tuesday, August 1st. Cowen and Company set a $8.00 price target on Weatherford International PLC and gave the stock a “buy” rating in a report on Friday, October 6th. Zacks Investment Research upgraded Weatherford International PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, BidaskClub upgraded Weatherford International PLC from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $6.15.
Weatherford International PLC (NYSE:WFT) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.02. Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned ($0.39) earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis.
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In related news, VP Douglas M. Mills sold 17,500 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $4.43, for a total transaction of $77,525.00. Following the completion of the transaction, the vice president now owns 279,125 shares in the company, valued at approximately $1,236,523.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.16% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baldwin Brothers Inc. MA acquired a new position in shares of Weatherford International PLC during the 1st quarter worth about $100,000. Sumitomo Mitsui Asset Management Company LTD grew its stake in Weatherford International PLC by 13.5% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,982 shares of the oil and gas company’s stock valued at $106,000 after acquiring an additional 1,899 shares in the last quarter. Laurion Capital Management LP purchased a new stake in Weatherford International PLC during the 1st quarter valued at about $109,000. BKD Wealth Advisors LLC grew its stake in Weatherford International PLC by 9.5% during the 1st quarter. BKD Wealth Advisors LLC now owns 16,884 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 1,471 shares in the last quarter. Finally, Two Sigma Securities LLC grew its stake in Weatherford International PLC by 14.5% during the 1st quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 2,238 shares in the last quarter.
Weatherford International PLC Company Profile
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