Cowen and Company Reiterates “$8.00” Price Target for Weatherford International PLC (WFT)

Cowen and Company set a $8.00 price target on Weatherford International PLC (NYSE:WFT) in a research report released on Friday. The firm currently has a buy rating on the oil and gas company’s stock.

Other analysts also recently issued research reports about the stock. Barclays PLC raised shares of Weatherford International PLC from an equal weight rating to an overweight rating and dropped their target price for the stock from $7.00 to $6.00 in a research report on Wednesday, June 21st. Sanford C. Bernstein downgraded shares of Weatherford International PLC from an outperform rating to a market perform rating and dropped their target price for the stock from $7.00 to $5.00 in a research report on Thursday, July 6th. Royal Bank Of Canada set a $8.00 target price on shares of Weatherford International PLC and gave the stock a buy rating in a research report on Saturday, June 24th. Seaport Global Securities downgraded shares of Weatherford International PLC from a buy rating to a neutral rating and dropped their target price for the stock from $7.00 to $4.00 in a research report on Wednesday, June 21st. Finally, BidaskClub downgraded shares of Weatherford International PLC from a sell rating to a strong sell rating in a research report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Weatherford International PLC currently has a consensus rating of Buy and an average price target of $6.22.

Weatherford International PLC (NYSE:WFT) opened at 4.21 on Friday. The company’s 50-day moving average is $4.16 and its 200-day moving average is $4.67. The company’s market cap is $4.16 billion. Weatherford International PLC has a 12 month low of $3.39 and a 12 month high of $7.09.

Weatherford International PLC (NYSE:WFT) last released its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share for the quarter, hitting the consensus estimate of ($0.28). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.46 billion. Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. Weatherford International PLC’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.28) EPS. On average, equities research analysts expect that Weatherford International PLC will post ($1.04) EPS for the current fiscal year.

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In related news, VP Douglas M. Mills sold 17,500 shares of the business’s stock in a transaction 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 directly owns 279,125 shares in the company, valued at approximately $1,236,523.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.16% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Weatherford International PLC by 1.5% during the second quarter. Vanguard Group Inc. now owns 83,499,841 shares of the oil and gas company’s stock worth $323,144,000 after acquiring an additional 1,203,292 shares during the period. Harris Associates L P raised its position in Weatherford International PLC by 2,166.3% during the second quarter. Harris Associates L P now owns 61,075,275 shares of the oil and gas company’s stock worth $236,361,000 after acquiring an additional 58,380,345 shares during the period. State Street Corp raised its position in Weatherford International PLC by 3.3% during the second quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock worth $195,718,000 after acquiring an additional 1,617,102 shares during the period. Wedge Capital Management L L P NC raised its position in Weatherford International PLC by 71.9% during the second quarter. Wedge Capital Management L L P NC now owns 29,156,413 shares of

Other analysts also recently issued research reports about the stock. Barclays PLC raised shares of Weatherford International PLC from an equal weight rating to an overweight rating and dropped their target price for the stock from $7.00 to $6.00 in a research report on Wednesday, June 21st. Sanford C. Bernstein downgraded shares of Weatherford International PLC from an outperform rating to a market perform rating and dropped their target price for the stock from $7.00 to $5.00 in a research report on Thursday, July 6th. Royal Bank Of Canada set a $8.00 target price on shares of Weatherford International PLC and gave the stock a buy rating in a research report on Saturday, June 24th. Seaport Global Securities downgraded shares of Weatherford International PLC from a buy rating to a neutral rating and dropped their target price for the stock from $7.00 to $4.00 in a research report on Wednesday, June 21st. Finally, BidaskClub downgraded shares of Weatherford International PLC from a sell rating to a strong sell rating in a research report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Weatherford International PLC currently has a consensus rating of Buy and an average price target of $6.22.

Weatherford International PLC (NYSE:WFT) opened at 4.21 on Friday. The company’s 50-day moving average is $4.16 and its 200-day moving average is $4.67. The company’s market cap is $4.16 billion. Weatherford International PLC has a 12 month low of $3.39 and a 12 month high of $7.09.

Weatherford International PLC (NYSE:WFT) last released its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share for the quarter, hitting the consensus estimate of ($0.28). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.46 billion. Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. Weatherford International PLC’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.28) EPS. On average, equities research analysts expect that Weatherford International PLC will post ($1.04) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/10/cowen-and-company-reiterates-8-00-price-target-for-weatherford-international-plc-wft.html.

In related news, VP Douglas M. Mills sold 17,500 shares of the business’s stock in a transaction 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 directly owns 279,125 shares in the company, valued at approximately $1,236,523.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.16% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Weatherford International PLC by 1.5% during the second quarter. Vanguard Group Inc. now owns 83,499,841 shares of the oil and gas company’s stock worth $323,144,000 after acquiring an additional 1,203,292 shares during the period. Harris Associates L P raised its position in Weatherford International PLC by 2,166.3% during the second quarter. Harris Associates L P now owns 61,075,275 shares of the oil and gas company’s stock worth $236,361,000 after acquiring an additional 58,380,345 shares during the period. State Street Corp raised its position in Weatherford International PLC by 3.3% during the second quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock worth $195,718,000 after acquiring an additional 1,617,102 shares during the period. Wedge Capital Management L L P NC raised its position in Weatherford International PLC by 71.9% during the second quarter. Wedge Capital Management L L P NC now owns 29,156,413 shares of the oil and gas company’s stock worth $112,835,000 after acquiring an additional 12,194,205 shares during the period. Finally, Thrivent Financial For Lutherans raised its position in Weatherford International PLC by 30.3% during the second quarter. Thrivent Financial For Lutherans now owns 13,347,035 shares of the oil and gas company’s stock worth $51,653,000 after acquiring an additional 3,103,335 shares during the period.

Weatherford International PLC Company Profile

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.

Analyst Recommendations for Weatherford International PLC (NYSE:WFT)

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