Weatherford International (WFT) Given a $5.00 Price Target at Royal Bank of Canada

Royal Bank of Canada set a $5.00 price target on Weatherford International (NYSE:WFT) in a report published on Thursday. The firm currently has a buy rating on the oil and gas company’s stock.

WFT has been the topic of a number of other research reports. Seaport Global Securities upgraded Weatherford International from a neutral rating to a buy rating and increased their target price for the company from $4.00 to $5.00 in a research report on Wednesday, November 1st. Citigroup increased their target price on Weatherford International from $5.30 to $5.60 and gave the company a buy rating in a research report on Thursday, October 5th. Societe Generale upgraded Weatherford International from a hold rating to a buy rating in a research report on Thursday, November 2nd. BMO Capital Markets decreased their target price on Weatherford International from $5.50 to $5.00 and set an outperform rating on the stock in a research report on Thursday, November 2nd. Finally, Deutsche Bank began coverage on Weatherford International in a research report on Tuesday, October 10th. They set a buy rating and a $6.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $6.03.

Shares of Weatherford International (NYSE WFT) traded up $0.13 during trading hours on Thursday, reaching $3.88. 20,737,700 shares of the company traded hands, compared to its average volume of 21,778,088. Weatherford International has a one year low of $3.08 and a one year high of $7.09. The company has a debt-to-equity ratio of 5.44, a quick ratio of 1.33 and a current ratio of 2.04.

Weatherford International (NYSE:WFT) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. Weatherford International had a negative return on equity of 67.44% and a negative net margin of 25.36%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted ($0.39) EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. analysts forecast that Weatherford International will post -1.02 earnings per share for the current year.

In related news, VP Douglas M. Mills sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total transaction of $28,125.00. Following the completion of the transaction, the vice president now directly owns 271,625 shares in the company, valued at approximately $1,018,593.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.16% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in WFT. Quantitative Systematic Strategies LLC purchased a new position in shares of Weatherford International in the 3rd quarter valued at about $123,000. Crawford Investment Counsel Inc. lifted its stake in Weatherford International by 68.8% during the second quarter. Crawford Investment Counsel Inc. now owns 36,797 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 15,000 shares during the last quarter. Private Advisor Group LLC lifted its stake in Weatherford International by 63.2% during the second quarter. Private Advisor Group LLC now owns 39,207 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 15,178 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in Weatherford International during the second quarter worth approximately $161,000. Finally, Balentine LLC increased its position in Weatherford International by 68.5% during the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock worth $168,000 after buying an additional 14,922 shares during the period.

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