The Citigroup Inc. Raises Weatherford International Ltd. (WFT) Price Target to $8.00

The Citigroup Inc. Raises Weatherford International Ltd. (WFT) Price Target to $8.00

Weatherford International Ltd. (NYSE:WFT) had its price objective boosted by Citigroup Inc. from $7.00 to $8.00 in a research note released on Tuesday. Citigroup Inc. currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on WFT. Vetr cut shares of Weatherford International from a buy rating to a hold rating and set a $6.95 target price on the stock. in a research note on Monday, June 13th. Bank of America Corp. initiated coverage on shares of Weatherford International in a research note on Monday, June 13th. They issued an underperform rating on the stock. Imperial Capital initiated coverage on shares of Weatherford International in a research note on Friday, June 24th. They issued an in-line rating and a $7.00 target price on the stock. Seaport Global Securities reiterated a buy rating on shares of Weatherford International in a research note on Friday, August 19th. Finally, Nomura set a $10.00 target price on shares of Weatherford International and gave the company a buy rating in a research note on Tuesday, August 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $8.83.

Shares of Weatherford International (NYSE:WFT) opened at 6.15 on Tuesday. Weatherford International has a 52-week low of $4.71 and a 52-week high of $11.49. The firm’s market cap is $5.51 billion. The company’s 50 day moving average is $5.74 and its 200 day moving average is $6.13.

Weatherford International (NYSE:WFT) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. Weatherford International had a negative net margin of 33.73% and a negative return on equity of 13.41%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the firm earned ($0.10) earnings per share. The firm’s revenue was down 41.3% on a year-over-year basis. Analysts anticipate that Weatherford International will post $2.45 earnings per share for the current year.

In other Weatherford International news, VP Douglas M. Mills sold 12,500 shares of the stock in a transaction on Friday, October 7th. The shares were sold at an average price of $5.97, for a total transaction of $74,625.00. Following the completion of the sale, the vice president now owns 223,933 shares of the company’s stock, valued at approximately $1,336,880.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Large investors have recently bought and sold shares of the company. Orbis Allan Gray Ltd bought a new stake in Weatherford International during the first quarter valued at approximately $130,340,000. Geode Capital Management LLC boosted its stake in Weatherford International by 18.8% in the first quarter. Geode Capital Management LLC now owns 5,390,989 shares of the company’s stock valued at $41,919,000 after buying an additional 853,411 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Weatherford International by 116.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 376,090 shares of the company’s stock valued at $2,926,000 after buying an additional 202,300 shares in the last quarter. Vanguard Group Inc. boosted its stake in Weatherford International by 5.4% in the second quarter. Vanguard Group Inc. now owns 68,298,516 shares of the company’s stock valued at $379,057,000 after buying an additional 3,504,828 shares in the last quarter. Finally, State Street Corp boosted its stake in Weatherford International by 36.9% in the first quarter. State Street Corp now owns 26,567,174 shares of the company’s stock valued at $206,692,000 after buying an additional 7,166,608 shares in the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

About Weatherford International

Related posts

Leave a Comment