Weatherford International plc (NYSE:WFT) – Analysts at Jefferies Financial Group dropped their Q4 2019 earnings per share (EPS) estimates for Weatherford International in a report issued on Monday, November 5th. Jefferies Financial Group analyst B. Handler now expects that the oil and gas company will post earnings per share of $0.00 for the quarter, down from their previous forecast of $0.05. Jefferies Financial Group has a “Hold” rating and a $1.00 price objective on the stock. Jefferies Financial Group also issued estimates for Weatherford International’s FY2021 earnings at $0.30 EPS and FY2022 earnings at $0.45 EPS.
Several other analysts have also commented on WFT. BMO Capital Markets set a $4.00 price objective on Weatherford International and gave the company a “buy” rating in a report on Wednesday, July 11th. Zacks Investment Research lowered Weatherford International from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. Piper Jaffray Companies set a $2.00 target price on Weatherford International and gave the company a “hold” rating in a research report on Sunday, July 29th. ValuEngine upgraded Weatherford International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Tudor Pickering upgraded Weatherford International from a “sell” rating to a “buy” rating in a research report on Monday, August 20th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $3.50.
Shares of WFT opened at $1.32 on Tuesday. Weatherford International has a 12 month low of $1.10 and a 12 month high of $4.41. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -1.14 and a beta of 2.84.
Weatherford International (NYSE:WFT) last posted its earnings results on Monday, October 29th. The oil and gas company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.58%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned ($0.22) earnings per share. Weatherford International’s revenue for the quarter was down 1.1% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC raised its position in Weatherford International by 100.0% in the second quarter. Crewe Advisors LLC now owns 136,846 shares of the oil and gas company’s stock valued at $382,000 after purchasing an additional 68,423 shares during the period. Bank of New York Mellon Corp raised its position in Weatherford International by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 4,245,369 shares of the oil and gas company’s stock valued at $13,967,000 after purchasing an additional 89,037 shares during the period. Schwab Charles Investment Management Inc. raised its position in Weatherford International by 13.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,273,299 shares of the oil and gas company’s stock valued at $17,350,000 after purchasing an additional 634,542 shares during the period. Sustainable Insight Capital Management LLC purchased a new stake in Weatherford International in the second quarter valued at $720,000. Finally, GSA Capital Partners LLP purchased a new stake in Weatherford International in the second quarter valued at $158,000.
In related news, Director Angela A. Minas acquired 40,000 shares of Weatherford International stock in a transaction that occurred on Monday, September 17th. The shares were purchased at an average price of $2.45 per share, for a total transaction of $98,000.00. Following the completion of the transaction, the director now owns 102,711 shares in the company, valued at approximately $251,641.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William E. Macaulay sold 767,591 shares of Weatherford International stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $2.86, for a total value of $2,195,310.26. Following the transaction, the director now owns 399,443 shares in the company, valued at approximately $1,142,406.98. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
About Weatherford International
Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.
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