Weatherford International PLC (WFT) Given a $6.00 Price Target at Scotiabank

Weatherford International PLC (NYSE:WFT) received a $6.00 target price from equities researchers at Scotiabank in a research report issued on Tuesday, August 1st. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Scotiabank’s price objective would suggest a potential upside of 49.63% from the stock’s previous close.

A number of other research firms have also recently issued reports on WFT. UBS AG reissued a “buy” rating and set a $8.00 price objective (down previously from $9.00) on shares of Weatherford International PLC in a research report on Tuesday, May 2nd. Royal Bank Of Canada set a $8.00 price objective on shares of Weatherford International PLC and gave the stock a “buy” rating in a research report on Saturday, June 24th. Piper Jaffray Companies set a $6.00 price objective on shares of Weatherford International PLC and gave the stock a “buy” rating in a research report on Saturday, July 29th. Credit Suisse Group reissued a “buy” rating and set a $6.00 price objective on shares of Weatherford International PLC in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC set a $6.00 price target on shares of Weatherford International PLC and gave the company a “hold” rating in a research report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $6.39.

Weatherford International PLC (WFT) opened at 4.01 on Tuesday. The firm’s 50-day moving average price is $4.12 and its 200 day moving average price is $5.14. The company’s market capitalization is $3.97 billion. Weatherford International PLC has a 12-month low of $3.39 and a 12-month high of $7.09.

Weatherford International PLC (NYSE:WFT) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business posted ($0.28) EPS. The business’s revenue was down 2.8% compared to the same quarter last year. On average, analysts expect that Weatherford International PLC will post ($1.03) earnings per share for the current year.

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Large investors have recently bought and sold shares of the company. Baldwin Brothers Inc. MA acquired a new stake in Weatherford International PLC during the first quarter valued at approximately $100,000. Sumitomo Mitsui Asset Management Company LTD raised its stake in Weatherford International PLC by 13.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,982 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 1,899 shares during the last quarter. Laurion Capital Management LP acquired a new stake in Weatherford International PLC during the first quarter valued at approximately $109,000. BKD Wealth Advisors LLC raised its stake in Weatherford International PLC by 9.5% in the first quarter. BKD Wealth Advisors LLC now owns 16,884 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 1,471 shares during the last quarter. Finally, Two Sigma Securities LLC raised its stake in Weatherford International PLC by 14.5% in the first quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 2,238 shares during the last quarter.

Weatherford International PLC 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.

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