Weatherford International PLC (NYSE:WFT) – Capital One Financial Corporation cut their Q3 2017 earnings per share estimates for Weatherford International PLC in a report issued on Monday. Capital One Financial Corporation analyst L. Lemoine now forecasts that the oil and gas company will post earnings of ($0.24) per share for the quarter, down from their prior forecast of ($0.22). Capital One Financial Corporation also issued estimates for Weatherford International PLC’s FY2018 earnings at ($0.36) EPS.
Several other research firms have also recently commented on WFT. BMO Capital Markets raised their target price on Weatherford International PLC from $4.75 to $5.50 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Scotiabank set a $6.00 price objective on Weatherford International PLC and gave the stock a “hold” rating in a research note on Tuesday, August 1st. Cowen and Company set a $8.00 price objective on Weatherford International PLC and gave the stock a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research raised Weatherford International PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub upgraded Weatherford International PLC from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $6.18.
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Weatherford International PLC (NYSE WFT) opened at 4.02 on Wednesday. The firm’s market cap is $3.98 billion. The stock has a 50 day moving average of $4.18 and a 200 day moving average of $4.66. Weatherford International PLC has a one year low of $3.39 and a one year high of $7.09.
Weatherford International PLC (NYSE:WFT) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.28). Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business earned ($0.28) EPS. The firm’s revenue was down 2.8% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the company. Laurion Capital Management LP bought a new position in shares of Weatherford International PLC during the first quarter valued at $109,000. Two Sigma Securities LLC raised its stake in shares of Weatherford International PLC by 14.5% during 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 acquiring an additional 2,238 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of Weatherford International PLC during the first quarter valued at $129,000. US Bancorp DE raised its stake in shares of Weatherford International PLC by 181.1% during the first quarter. US Bancorp DE now owns 25,523 shares of the oil and gas company’s stock valued at $170,000 after acquiring an additional 16,444 shares during the last quarter. Finally, Fore Research & Management LP bought a new position in shares of Weatherford International PLC during the first quarter valued at $199,000.
In related news, VP Douglas M. Mills sold 17,500 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $4.43, for a total value of $77,525.00. Following the completion of the transaction, the vice president now owns 279,125 shares of the company’s stock, valued at approximately $1,236,523.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.16% of the stock is owned by corporate insiders.
About Weatherford International PLC
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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