Weatherford International Plc (NYSE:WFT) – Analysts at Gabelli boosted their FY2020 earnings per share (EPS) estimates for Weatherford International in a research note issued on Tuesday. Gabelli analyst S. Wong now forecasts that the oil and gas company will post earnings of $0.20 per share for the year, up from their prior forecast of $0.15. Gabelli currently has a “Buy” rating on the stock.
A number of other brokerages also recently issued reports on WFT. Jefferies Group downgraded Weatherford International from a “hold” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research report on Thursday. UBS Group set a $6.00 price target on Weatherford International and gave the stock a “buy” rating in a research report on Wednesday. Credit Suisse Group set a $6.00 price target on Weatherford International and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada set a $5.00 price target on Weatherford International and gave the stock a “buy” rating in a research report on Thursday, December 21st. Finally, Citigroup downgraded Weatherford International from a “buy” rating to a “neutral” rating and set a $4.20 price target on the stock. in a research report on Monday, November 6th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Weatherford International has a consensus rating of “Buy” and a consensus target price of $5.94.
Weatherford International (NYSE:WFT) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.02. Weatherford International had a negative return on equity of 67.44% and a negative net margin of 25.36%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business earned ($0.39) earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis.
In other Weatherford International news, VP Douglas M. Mills sold 7,500 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total transaction of $28,125.00. Following the completion of the sale, the vice president now directly owns 271,625 shares in the company, valued at $1,018,593.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.16% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WFT. Quantitative Systematic Strategies LLC bought a new stake in Weatherford International during the third quarter worth $123,000. Private Advisor Group LLC lifted its stake in Weatherford International by 63.2% during the second 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. CIBC World Markets Inc. bought a new stake in Weatherford International during the second quarter worth $161,000. Balentine LLC lifted its stake in Weatherford International by 68.5% during the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 14,922 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in Weatherford International by 244.5% during the third quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock worth $181,000 after purchasing an additional 28,070 shares during the last quarter.
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