Research analysts at SunTrust Banks Inc. started coverage on shares of Weatherford International Ltd. (NYSE:WFT) in a report released on Wednesday. The firm set a “buy” rating and a $8.00 price target on the stock. SunTrust Banks Inc.’s price objective would suggest a potential upside of 48.98% from the company’s current price.
Several other research firms have also recently weighed in on WFT. Cowen and Company cut their target price on shares of Weatherford International from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, December 13th. Scotiabank reaffirmed a “sector perform” rating and set a $7.00 target price (down from $8.00) on shares of Weatherford International in a research note on Thursday, October 27th. Barclays PLC reaffirmed an “equal weight” rating and set a $7.00 target price (down from $8.00) on shares of Weatherford International in a research note on Monday, January 9th. RBC Capital Markets reaffirmed a “buy” rating and set a $8.00 target price on shares of Weatherford International in a research note on Friday, January 6th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Weatherford International in a research note on Wednesday, December 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the company. Weatherford International currently has an average rating of “Buy” and an average price target of $7.95.
Weatherford International (NYSE:WFT) opened at 5.37 on Wednesday. The stock’s 50 day moving average is $5.33 and its 200 day moving average is $5.47. Weatherford International has a 52 week low of $3.73 and a 52 week high of $8.49. The company’s market capitalization is $4.82 billion.
Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Tuesday, October 25th. The company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. Weatherford International had a negative net margin of 63.74% and a negative return on equity of 24.19%. The firm’s revenue for the quarter was down 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, equities research analysts expect that Weatherford International will post ($1.29) earnings per share for the current year.
In other news, VP Douglas M. Mills sold 9,975 shares of the company’s stock in a transaction on Thursday, January 19th. The shares were sold at an average price of $5.35, for a total value of $53,366.25. Following the sale, the vice president now directly owns 202,407 shares of the company’s stock, valued at approximately $1,082,877.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in WFT. Prudential Financial Inc. increased its stake in Weatherford International by 10.1% in the second quarter. Prudential Financial Inc. now owns 66,424 shares of the company’s stock valued at $369,000 after buying an additional 6,100 shares during the period. Nationwide Fund Advisors boosted its position in Weatherford International by 3.4% in the second quarter. Nationwide Fund Advisors now owns 1,441,556 shares of the company’s stock valued at $8,001,000 after buying an additional 48,000 shares in the last quarter. KLCM Advisors Inc. boosted its position in Weatherford International by 8.3% in the second quarter. KLCM Advisors Inc. now owns 1,089,387 shares of the company’s stock valued at $6,046,000 after buying an additional 83,500 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Weatherford International during the second quarter valued at about $402,000. Finally, Exane Asset Management purchased a new position in Weatherford International during the second quarter valued at about $569,000. 90.56% of the stock is currently owned by institutional investors and hedge funds.
Weatherford International Company Profile
Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.