Piper Jaffray Companies set a $2.00 price target on Weatherford International (NYSE:WFT) in a report published on Tuesday, October 30th. The firm currently has a hold rating on the oil and gas company’s stock. Piper Jaffray Companies also issued estimates for Weatherford International’s Q4 2018 earnings at ($0.11) EPS, FY2018 earnings at ($0.56) EPS, Q1 2019 earnings at ($0.13) EPS, Q4 2019 earnings at ($0.04) EPS, FY2019 earnings at ($0.37) EPS, Q1 2020 earnings at ($0.04) EPS, Q2 2020 earnings at ($0.04) EPS, Q3 2020 earnings at $0.00 EPS and FY2020 earnings at ($0.04) EPS.
Several other equities research analysts also recently commented on the stock. Raymond James set a $3.00 target price on shares of Weatherford International and gave the stock a buy rating in a research report on Tuesday, October 30th. Tudor Pickering raised shares of Weatherford International from a sell rating to a buy rating in a research report on Monday, August 20th. BMO Capital Markets set a $4.00 price objective on shares of Weatherford International and gave the stock a buy rating in a research report on Wednesday, July 11th. Morgan Stanley began coverage on shares of Weatherford International in a research report on Tuesday, September 18th. They issued an equal weight rating and a $4.00 price objective for the company. Finally, ValuEngine raised shares of Weatherford International from a sell rating to a hold rating in a research report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $3.50.
WFT stock traded up $0.03 during midday trading on Tuesday, hitting $0.68. The stock had a trading volume of 20,010,825 shares, compared to its average volume of 33,738,428. The firm has a market cap of $654.60 million, a price-to-earnings ratio of -0.59 and a beta of 2.84. Weatherford International has a 1-year low of $0.64 and a 1-year high of $4.41.
Weatherford International (NYSE:WFT) last released its earnings results on Monday, October 29th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. Weatherford International had a negative net margin of 45.58% and a negative return on equity of 283.53%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the business earned ($0.22) earnings per share. Weatherford International’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts anticipate that Weatherford International will post -0.57 earnings per share for the current year.
In related news, Director William E. Macaulay sold 767,591 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $2.86, for a total transaction of $2,195,310.26. Following the transaction, the director now owns 399,443 shares of the company’s stock, valued at approximately $1,142,406.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Angela A. Minas bought 40,000 shares of Weatherford International stock in a transaction that occurred on Monday, September 17th. The shares were acquired at an average cost of $2.45 per share, for a total transaction of $98,000.00. Following the acquisition, the director now owns 102,711 shares in the company, valued at approximately $251,641.95. The disclosure for this purchase can be found here. Corporate insiders own 0.44% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC lifted its position in shares of Weatherford International by 100.0% in the 2nd quarter. Crewe Advisors LLC now owns 136,846 shares of the oil and gas company’s stock worth $382,000 after purchasing an additional 68,423 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Weatherford International by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,245,369 shares of the oil and gas company’s stock worth $13,967,000 after purchasing an additional 89,037 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Weatherford International by 13.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,273,299 shares of the oil and gas company’s stock worth $17,350,000 after purchasing an additional 634,542 shares during the period. Sustainable Insight Capital Management LLC purchased a new stake in shares of Weatherford International in the 2nd quarter worth about $720,000. Finally, Perella Weinberg Partners Capital Management LP lifted its position in shares of Weatherford International by 8.6% in the 3rd quarter. Perella Weinberg Partners Capital Management LP now owns 23,255,018 shares of the oil and gas company’s stock worth $63,021,000 after purchasing an additional 1,835,110 shares during the period.
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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