Weatherford International PLC (WFT) Upgraded to “Outperform” at Sanford C. Bernstein
Weatherford International PLC (NYSE:WFT) was upgraded by stock analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued on Friday, The Fly reports.
WFT has been the topic of a number of other research reports. Citigroup Inc. upped their target price on shares of Weatherford International PLC from $5.30 to $5.60 and gave the stock a “buy” rating in a report on Thursday, October 5th. Seaport Global Securities upgraded shares of Weatherford International PLC from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.00 to $5.00 in a report on Wednesday. Societe Generale upgraded shares of Weatherford International PLC from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets lowered their target price on shares of Weatherford International PLC from $5.50 to $5.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Deutsche Bank AG assumed coverage on shares of Weatherford International PLC in a report on Tuesday, October 10th. They issued a “buy” rating and a $6.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $6.13.
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, topping the Zacks’ consensus estimate of ($0.24) by $0.02. Weatherford International PLC had a negative net margin of 25.36% and a negative return on equity of 63.83%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted ($0.39) EPS. The firm’s revenue 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 firm’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 directly owns 279,125 shares of the company’s stock, valued at approximately $1,236,523.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.16% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in 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 stake in Weatherford International PLC by 1.5% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 33,000 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 500 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Weatherford International PLC during the first quarter valued at $129,000. Crawford Investment Counsel Inc. raised its stake in Weatherford International PLC by 68.8% during the second quarter. Crawford Investment Counsel Inc. now owns 36,797 shares of the oil and gas company’s stock valued at $142,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in Weatherford International PLC by 63.2% during the second quarter. Private Advisor Group LLC now owns 39,207 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 15,178 shares in the last quarter.
Weatherford International PLC Company Profile
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