Loop Capital Trims Weatherford International (WFT) Target Price to $7.00

Weatherford International (NYSE:WFT) had its price objective decreased by Loop Capital to $7.00 in a report issued on Tuesday. Loop Capital currently has a buy rating on the oil and gas company’s stock.

Several other analysts have also recently commented on WFT. Jefferies Group cut shares of Weatherford International from a hold rating to an underperform rating and set a $3.00 price target for the company. in a report on Thursday, January 4th. Zacks Investment Research cut shares of Weatherford International from a hold rating to a sell rating in a research note on Saturday, January 6th. Seaport Global Securities upgraded shares of Weatherford International from a neutral rating to a buy rating and lifted their target price for the company from $4.00 to $5.00 in a research note on Wednesday, November 1st. Credit Suisse Group set a $6.00 target price on shares of Weatherford International and gave the company a buy rating in a research note on Tuesday, January 2nd. Finally, UBS Group set a $6.00 target price on shares of Weatherford International and gave the company a buy rating in a research note on Wednesday, January 3rd. Five analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $5.90.

Weatherford International (NYSE:WFT) traded up $0.07 during mid-day trading on Tuesday, hitting $4.17. 22,070,600 shares of the company traded hands, compared to its average volume of 31,133,275. The company has a debt-to-equity ratio of 5.44, a quick ratio of 1.33 and a current ratio of 2.04. The firm has a market capitalization of $4,140.00, a PE ratio of -2.92 and a beta of 2.32. Weatherford International has a twelve month low of $3.08 and a twelve month high of $7.09.

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

In other news, VP Douglas M. Mills sold 7,500 shares of Weatherford International stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $3.75, for a total value of $28,125.00. Following the transaction, the vice president now owns 271,625 shares of the company’s stock, valued at $1,018,593.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.16% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC bought a new position in Weatherford International during the third quarter worth $123,000. 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 acquiring an additional 14,922 shares during the period. Private Advisor Group LLC increased its position 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 acquiring an additional 15,178 shares during the period. Toronto Dominion Bank increased its position in 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 worth $181,000 after acquiring an additional 28,070 shares during the period. Finally, CIBC World Markets Inc. bought a new position in Weatherford International during the second quarter worth $161,000.

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