Weatherford International Plc (NYSE:WFT) – Equities research analysts at Gabelli decreased their FY2018 EPS estimates for shares of Weatherford International in a research note issued on Monday. Gabelli analyst S. Wong now anticipates that the oil and gas company will earn ($0.75) per share for the year, down from their previous forecast of ($0.50). Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for Weatherford International’s FY2019 earnings at ($0.35) EPS, FY2020 earnings at $0.00 EPS and FY2021 earnings at $0.25 EPS.
A number of other research analysts have also commented on the company. Credit Suisse Group cut their price target on Weatherford International from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Tuesday. Loop Capital set a $5.00 price target on Weatherford International and gave the stock a “buy” rating in a report on Tuesday. Guggenheim set a $7.00 price target on Weatherford International and gave the stock a “buy” rating in a report on Monday. Seaport Global Securities restated a “buy” rating and issued a $6.00 target price on shares of Weatherford International in a research note on Monday. Finally, Bank of America cut their target price on Weatherford International from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Monday. Six investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $5.59.
Weatherford International (NYSE:WFT) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.12). Weatherford International had a negative return on equity of 75.02% and a negative net margin of 49.36%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm earned ($0.32) earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year.
In other Weatherford International news, VP Douglas M. Mills sold 7,500 shares of the 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 transaction, 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 is accessible through this hyperlink. Also, VP Douglas M. Mills sold 15,223 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $4.07, for a total value of $61,957.61. Following the transaction, the vice president now owns 256,402 shares of the company’s stock, valued at $1,043,556.14. The disclosure for this sale can be found here. Insiders have sold 46,726 shares of company stock valued at $193,648 over the last quarter. Corporate insiders own 1.16% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its stake in Weatherford International by 658.4% during the fourth quarter. Teacher Retirement System of Texas now owns 324,980 shares of the oil and gas company’s stock worth $1,355,000 after acquiring an additional 282,132 shares in the last quarter. Aperio Group LLC raised its stake in Weatherford International by 10.8% during the fourth quarter. Aperio Group LLC now owns 169,133 shares of the oil and gas company’s stock worth $705,000 after acquiring an additional 16,437 shares in the last quarter. Comerica Bank raised its stake in Weatherford International by 31.9% during the fourth quarter. Comerica Bank now owns 1,647,597 shares of the oil and gas company’s stock worth $7,035,000 after acquiring an additional 398,021 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Weatherford International during the fourth quarter worth $391,000. Finally, Wedge Capital Management L L P NC raised its stake in Weatherford International by 13.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 31,579,597 shares of the oil and gas company’s stock worth $131,687,000 after acquiring an additional 3,744,073 shares in the last quarter.
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Weatherford International Company Profile
Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.
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