Equities researchers at Morgan Stanley initiated coverage on shares of Weatherford International (NYSE:WFT) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm set an “equal weight” rating and a $4.00 price target on the oil and gas company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 57.48% from the stock’s current price.

A number of other research firms have also recently weighed in on WFT. Zacks Investment Research cut Weatherford International from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. Credit Suisse Group set a $4.00 price objective on Weatherford International and gave the stock a “buy” rating in a research report on Thursday, May 24th. BMO Capital Markets set a $4.00 price target on Weatherford International and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Piper Jaffray Companies set a $2.00 price target on Weatherford International and gave the stock a “hold” rating in a research report on Sunday, July 29th. Finally, ValuEngine raised Weatherford International from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $4.51.

Shares of Weatherford International stock traded up $0.11 during trading on Tuesday, reaching $2.54. The company’s stock had a trading volume of 406,221 shares, compared to its average volume of 19,965,273. The company has a debt-to-equity ratio of -5.82, a current ratio of 1.68 and a quick ratio of 1.16. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -2.14 and a beta of 2.42. Weatherford International has a 1-year low of $2.07 and a 1-year high of $4.72.

Weatherford International (NYSE:WFT) last posted its quarterly earnings data on Friday, July 27th. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.02. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 46.44%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.28) EPS. equities research analysts anticipate that Weatherford International will post -0.56 earnings per share for the current fiscal year.

In related news, Director Angela A. Minas acquired 40,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was acquired at an average price of $2.45 per share, with a total value of $98,000.00. Following the acquisition, the director now directly owns 102,711 shares in the company, valued at approximately $251,641.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William E. Macaulay sold 767,591 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $2.86, for a total value of $2,195,310.26. Following the completion of the transaction, the director now directly owns 399,443 shares of the company’s stock, valued at approximately $1,142,406.98. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Several hedge funds have recently modified their holdings of WFT. Swiss National Bank lifted its holdings in shares of Weatherford International by 2.2% in the 1st quarter. Swiss National Bank now owns 1,722,500 shares of the oil and gas company’s stock valued at $3,945,000 after buying an additional 37,900 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Weatherford International by 11.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 4,638,757 shares of the oil and gas company’s stock valued at $10,623,000 after buying an additional 489,787 shares during the period. Engineers Gate Manager LP lifted its holdings in shares of Weatherford International by 369.6% in the 1st quarter. Engineers Gate Manager LP now owns 439,914 shares of the oil and gas company’s stock valued at $1,007,000 after buying an additional 346,227 shares during the period. Aperio Group LLC lifted its holdings in shares of Weatherford International by 33.9% in the 1st quarter. Aperio Group LLC now owns 226,501 shares of the oil and gas company’s stock valued at $519,000 after buying an additional 57,368 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Weatherford International by 52.4% in the 1st quarter. KBC Group NV now owns 114,127 shares of the oil and gas company’s stock valued at $261,000 after buying an additional 39,220 shares during the period.

About Weatherford International

Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.

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Analyst Recommendations for Weatherford International (NYSE:WFT)

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