Analysts’ Weekly Ratings Changes for Weatherford International (WFT)

Share on StockTwits

Several analysts have recently updated their ratings and price targets for Weatherford International (NYSE: WFT):

  • 1/21/2019 – Weatherford International was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Weatherford’s long-term debt jumped more than 26% in 2016 and almost 2%, while cash and equivalents fell 40.9% during 2017. The rise in debt load and the decline in cash balances reflect significant balance sheet weaknesses. Moreover, the company’s debt to capitalization ratio of 84.5% is much higher than industry’s 62.2%. With the sale of pressure-pumping business to Schlumberger, Weatherford’s presence in North American shale is shrinking, which is witnessing the fastest recovery. Instead, the company has a large presence in Canada, Latin America and the Eastern Hemisphere. These markets have been slower to recover than U.S. shale and this is reflected in Weatherford's bottom line.  Therefore, the stock warrants a cautious stance.”
  • 1/16/2019 – Weatherford International was downgraded by analysts at Capital One Financial Corp. from an “overweight” rating to an “equal weight” rating.
  • 1/12/2019 – Weatherford International was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Weatherford’s long-term debt jumped more than 26% in 2016 and almost 2%, while cash and equivalents fell 40.9% during 2017. The rise in debt load and the decline in cash balances reflect significant balance sheet weaknesses. Moreover, the company’s debt to capitalization ratio of 84.5% is much higher than industry’s 62.2%. With the sale of pressure-pumping business to Schlumberger, Weatherford’s presence in North American shale is shrinking, which is witnessing the fastest recovery. Instead, the company has a large presence in Canada, Latin America and the Eastern Hemisphere. These markets have been slower to recover than U.S. shale and this is reflected in Weatherford's bottom line.  Therefore, the stock warrants a cautious stance.”
  • 1/9/2019 – Weatherford International was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They now have a $1.00 price target on the stock, down previously from $2.50.
  • 1/6/2019 – Weatherford International had its “hold” rating reaffirmed by analysts at Wells Fargo & Co.
  • 12/17/2018 – Weatherford International had its “sell” rating reaffirmed by analysts at Raymond James.
  • 12/13/2018 – Weatherford International was downgraded by analysts at Raymond James from a “market perform” rating to an “underperform” rating. They now have a $0.46 price target on the stock.
  • 12/11/2018 – Weatherford International was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating.
  • 12/11/2018 – Weatherford International was downgraded by analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating. They now have a $2.00 price target on the stock.

NYSE WFT traded up $0.04 during trading on Monday, hitting $0.57. The company’s stock had a trading volume of 19,215,041 shares, compared to its average volume of 32,843,148. The company has a market cap of $567.72 million, a P/E ratio of -0.49 and a beta of 2.28. Weatherford International plc has a 52 week low of $0.22 and a 52 week high of $4.41.

Weatherford International (NYSE:WFT) last issued its quarterly earnings results on Monday, October 29th. The oil and gas company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.52 billion. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.22) earnings per share. Sell-side analysts expect that Weatherford International plc will post -0.57 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of WFT. First Trust Advisors LP acquired a new stake in shares of Weatherford International during the 2nd quarter worth approximately $119,000. GSA Capital Partners LLP acquired a new stake in shares of Weatherford International during the 2nd quarter worth approximately $158,000. FMR LLC grew its holdings in shares of Weatherford International by 37.8% during the 2nd quarter. FMR LLC now owns 12,460,897 shares of the oil and gas company’s stock worth $40,996,000 after purchasing an additional 3,415,343 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Weatherford International by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,245,369 shares of the oil and gas company’s stock worth $13,967,000 after purchasing an additional 89,037 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Weatherford International by 4.5% during the 2nd quarter. Northern Trust Corp now owns 5,034,119 shares of the oil and gas company’s stock worth $16,563,000 after purchasing an additional 217,002 shares in the last quarter.

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.

Featured Story: Fundamental Analysis and Choosing Stocks

Receive News & Ratings for Weatherford International plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weatherford International plc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply