Sanford C. Bernstein Upgrades Weatherford International PLC (WFT) to Outperform

Weatherford International PLC (NYSE:WFT) was upgraded by stock analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a report released on Friday.

A number of other equities analysts have also recently commented on the stock. Scotiabank reissued a “buy” rating on shares of Weatherford International PLC in a research note on Tuesday, August 29th. ValuEngine cut shares of Weatherford International PLC from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Jefferies Group LLC set a $5.00 price target on shares of Weatherford International PLC and gave the stock a “hold” rating in a research note on Thursday, October 5th. Zacks Investment Research cut shares of Weatherford International PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, UBS AG reissued a “buy” rating and issued a $6.00 price target (down previously from $8.00) on shares of Weatherford International PLC in a research note on Thursday, July 6th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $6.13.

Shares of Weatherford International PLC (NYSE WFT) traded up $0.20 during trading hours on Friday, reaching $3.99. 34,884,713 shares of the company traded hands, compared to its average volume of 25,193,100. Weatherford International PLC has a 12 month low of $3.16 and a 12 month high of $7.09. The company has a debt-to-equity ratio of 5.44, a current ratio of 2.04 and a quick ratio of 1.39.

Weatherford International PLC (NYSE:WFT) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.02. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Weatherford International PLC had a negative net margin of 25.36% and a negative return on equity of 67.44%. Weatherford International PLC’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.39) earnings per share. equities research analysts anticipate that Weatherford International PLC will post -1.02 earnings per share for the current year.

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In other news, VP Douglas M. Mills sold 17,500 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $4.43, for a total value of $77,525.00. Following the sale, the vice president now directly owns 279,125 shares of the company’s stock, valued at approximately $1,236,523.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.16% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. FDx Advisors Inc. grew its position in shares of Weatherford International PLC by 22.9% in the 3rd quarter. FDx Advisors Inc. now owns 97,676 shares of the oil and gas company’s stock worth $447,000 after buying an additional 18,188 shares during the period. Bessemer Group Inc. grew its position in Weatherford International PLC by 51.6% during the 3rd quarter. Bessemer Group Inc. now owns 321,333 shares of the oil and gas company’s stock valued at $1,472,000 after purchasing an additional 109,390 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in Weatherford International PLC by 46.4% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 48,300 shares of the oil and gas company’s stock valued at $221,000 after purchasing an additional 15,300 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Weatherford International PLC by 6.8% during the 3rd quarter. Gamco Investors INC. ET AL now owns 10,001,770 shares of the oil and gas company’s stock valued at $45,808,000 after purchasing an additional 635,784 shares during the last quarter. Finally, Berkshire Asset Management LLC PA grew its position in Weatherford International PLC by 77.5% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 62,292 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 27,195 shares during the last quarter.

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