Weatherford International Plc (WFT) Upgraded to “Strong-Buy” by Vetr Inc.
Vetr upgraded shares of Weatherford International Plc (NYSE:WFT) from a buy rating to a strong-buy rating in a research note published on Monday. Vetr currently has $7.02 target price on the oil and gas company’s stock.
A number of other research firms have also recently weighed in on WFT. Capital One Financial Corp. raised Weatherford International Plc from an equal weight rating to an overweight rating and set a $7.00 price target for the company in a report on Tuesday, March 7th. Cowen and Company lowered their target price on Weatherford International Plc from $9.00 to $7.00 and set an outperform rating for the company in a research note on Tuesday, December 13th. Evercore ISI reissued an outperform rating and issued a $7.00 target price on shares of Weatherford International Plc in a research note on Tuesday, March 7th. Barclays PLC reissued an equal weight rating and issued a $7.00 target price (down from $8.00) on shares of Weatherford International Plc in a research note on Monday, January 9th. Finally, Royal Bank of Canada reissued a buy rating and issued a $8.00 target price on shares of Weatherford International Plc in a research note on Friday, January 6th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $7.29.
Shares of Weatherford International Plc (NYSE:WFT) opened at 5.47 on Monday. Weatherford International Plc has a 52-week low of $3.73 and a 52-week high of $8.49. The company’s 50-day moving average price is $6.23 and its 200-day moving average price is $5.61. The stock’s market cap is $5.38 billion.
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In other Weatherford International Plc news, VP Douglas M. Mills sold 14,395 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $5.58, for a total transaction of $80,324.10. Following the completion of the sale, the vice president now directly owns 318,520 shares in the company, valued at $1,777,341.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Douglas M. Mills sold 6,462 shares of the company’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $5.30, for a total value of $34,248.60. Following the sale, the vice president now owns 328,520 shares of the company’s stock, valued at $1,741,156. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Dodge & Cox acquired a new stake in Weatherford International Plc during the fourth quarter valued at $416,023,000. Van ECK Associates Corp boosted its stake in Weatherford International Plc by 269.8% in the fourth quarter. Van ECK Associates Corp now owns 24,846,508 shares of the oil and gas company’s stock valued at $123,984,000 after buying an additional 18,128,346 shares during the last quarter. State Street Corp boosted its stake in Weatherford International Plc by 33.6% in the fourth quarter. State Street Corp now owns 44,334,964 shares of the oil and gas company’s stock valued at $221,220,000 after buying an additional 11,154,362 shares during the last quarter. Norges Bank acquired a new stake in Weatherford International Plc during the fourth quarter valued at $26,548,000. Finally, Tide Point Capital Management LP acquired a new stake in Weatherford International Plc during the fourth quarter valued at $16,175,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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