Weatherford International PLC (NYSE:WFT) had its price target dropped by investment analysts at Morgan Stanley from $5.50 to $5.00 in a research report issued on Thursday. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target indicates a potential upside of 44.09% from the company’s previous close.

A number of other research firms also recently weighed in on WFT. BMO Capital Markets lifted their target price on Weatherford International PLC from $4.75 to $5.50 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Scotiabank set a $6.00 target price on Weatherford International PLC and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Cowen and Company set a $8.00 target price on Weatherford International PLC and gave the stock a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research raised Weatherford International PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub raised Weatherford International PLC from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $6.15.

Weatherford International PLC (NYSE:WFT) last released its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business earned ($0.39) earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year.

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In related news, VP Douglas M. Mills sold 17,500 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $4.43, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.16% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC bought a new position in Weatherford International PLC in the 3rd quarter worth approximately $123,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Weatherford International PLC by 1.5% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 33,000 shares of the oil and gas company’s stock worth $128,000 after purchasing an additional 500 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Weatherford International PLC in the 1st quarter worth approximately $129,000. Crawford Investment Counsel Inc. raised its position in Weatherford International PLC by 68.8% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 36,797 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in Weatherford International PLC by 63.2% in the 2nd quarter. Private Advisor Group LLC now owns 39,207 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 15,178 shares during the last quarter.

Weatherford International PLC Company Profile

Analyst Recommendations for Weatherford International PLC (NYSE:WFT)

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