Morgan Stanley Trims Weatherford International PLC (NYSE:WFT) Target Price to $5.50

Weatherford International PLC (NYSE:WFT) had its target price dropped by research analysts at Morgan Stanley from $6.00 to $5.50 in a research note issued on Monday, August 7th. The firm presently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective suggests a potential upside of 40.66% from the stock’s current price.

WFT has been the subject of a number of other research reports. Scotiabank set a $6.00 target price on Weatherford International PLC and gave the stock a “hold” rating in a report on Monday, May 1st. Seaport Global Securities reaffirmed a “neutral” rating on shares of Weatherford International PLC in a report on Friday, July 28th. Sanford C. Bernstein cut Weatherford International PLC from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $7.00 to $5.00 in a report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $8.00 target price on shares of Weatherford International PLC in a report on Friday, May 19th. Finally, UBS AG reiterated a “buy” rating and issued a $8.00 price target (down previously from $9.00) on shares of Weatherford International PLC in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $6.39.

Shares of Weatherford International PLC (NYSE:WFT) traded down 0.51% during mid-day trading on Monday, hitting $3.89. 6,492,750 shares of the company were exchanged. The stock’s 50-day moving average price is $4.12 and its 200 day moving average price is $5.16. Weatherford International PLC has a 12-month low of $3.39 and a 12-month high of $7.09. The stock’s market cap is $3.85 billion.

Weatherford International PLC (NYSE:WFT) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm earned ($0.28) EPS. Weatherford International PLC’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts anticipate that Weatherford International PLC will post ($1.03) EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of WFT. Baldwin Brothers Inc. MA purchased a new stake in Weatherford International PLC during the first quarter worth $100,000. Sumitomo Mitsui Asset Management Company LTD increased its stake in Weatherford International PLC by 13.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,982 shares of the oil and gas company’s stock worth $106,000 after buying an additional 1,899 shares during the last quarter. Laurion Capital Management LP purchased a new stake in Weatherford International PLC during the first quarter worth $109,000. BKD Wealth Advisors LLC increased its stake in Weatherford International PLC by 9.5% in the first quarter. BKD Wealth Advisors LLC now owns 16,884 shares of the oil and gas company’s stock worth $112,000 after buying an additional 1,471 shares during the last quarter. Finally, Two Sigma Securities LLC increased its stake in Weatherford International PLC by 14.5% in the first quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock worth $117,000 after buying an additional 2,238 shares during the last quarter.

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.