A number of other equities analysts have also commented on WFT. Deutsche Bank initiated coverage on Weatherford International in a research note on Tuesday, October 10th. They issued a buy rating and a $6.00 price objective on the stock. BMO Capital Markets reaffirmed a buy rating and issued a $5.50 price objective on shares of Weatherford International in a research note on Friday, October 13th. Zacks Investment Research lowered Weatherford International from a hold rating to a sell rating in a research note on Tuesday, October 17th. Seaport Global Securities raised Weatherford International from a neutral rating to a buy rating and lifted their price objective for the stock from $4.00 to $5.00 in a research note on Wednesday, November 1st. Finally, Morgan Stanley cut their price objective on Weatherford International from $5.50 to $5.00 and set an overweight rating on the stock in a research note on Thursday, November 2nd. Six research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $5.59.
Weatherford International (WFT) opened at $3.12 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 2.04 and a debt-to-equity ratio of 5.44. The company has a market capitalization of $3,070.00, a P/E ratio of -1.88 and a beta of 2.07. Weatherford International has a 12 month low of $2.99 and a 12 month high of $7.09.
In other Weatherford International news, VP Douglas M. Mills sold 7,500 shares of Weatherford International stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total value of $28,125.00. Following the completion of the sale, the vice president now directly owns 271,625 shares in the company, valued at $1,018,593.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Douglas M. Mills sold 17,931 shares of Weatherford International stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $4.34, for a total value of $77,820.54. Following the completion of the sale, the vice president now owns 238,471 shares of the company’s stock, valued at $1,034,964.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,726 shares of company stock valued at $193,648. 1.16% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WFT. Quantitative Systematic Strategies LLC bought a new stake in shares of Weatherford International during the third quarter valued at approximately $123,000. Balentine LLC increased its holdings in shares of Weatherford International by 68.5% during the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 14,922 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Weatherford International by 244.5% during the third quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock valued at $181,000 after acquiring an additional 28,070 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Weatherford International by 8.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock valued at $215,000 after acquiring an additional 4,497 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Weatherford International during the fourth quarter valued at approximately $216,000.
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About Weatherford International
Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.
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