Analysis: Weatherford International Ltd (NYSE:WFT) Target Raised Today
In a note sent to investors by RBC Capital Markets on Friday morning, the firm, Weatherford International Ltd (NYSE:WFT), had their TP lowered to $11.00. Analusts right now have a solid “Outperform” rating on the stock.
From a total of 29 analysts covering Weatherford International Ltd. (NYSE:WFT) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $20 while the lowest target price is $8. The mean of all analyst targets is $12.39 with a 70.09% above today’s ($7.79) stock price. Weatherford International Ltd. was the topic of 23 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Citigroup upgraded shares on December 11 to “Buy” rating. Citigroup maintained shares with “Neutral” rating and $10 target share price in a report from an October 5. Oppenheimer maintained WFT stock in a recent report from October 26 with “Outperform” rating. Barclays Capital upgraded the rating on July 27. Barclays Capital has a “Equal Weight” rating and a $12 price target on shares. Finally, Credit Suisse maintained the stock with “Outperform” rating in a report issued on a September 4.
Approximately 11.86M shares of stock traded hands or 22.27% up from the average. Weatherford International Plc (NYSE:WFT) has declined 40.62% since May 15, 2015 and is downtrending. It has underperformed by 36.81% the S&P500.
The overall sentiment of institutions has increased to 1.01 in Q2 2015. Its up 0.02, from 0.99 in 2015Q2. The ratio increased, as 63 institutions have sold all the shares of Weatherford International Plc that they owned while 110 funds have taken shares off the table. 41 funds have purchased shares for the first time while 133 added to their positions. These institutions now hold 607.95 million shares or 1.53% less than the 617.41 million shares they owned in 2015Q2.
The Fund Arga Investment Management Lp currently is holding shares equating to 19.5% of its total portfolio in Weatherford International Plc representing a total of 8.03 million shares. Another fund,Whv Investments Inc., is holding a total of 18.25 million shares equating to 5.82% of their holdings. Additionally, Stanley Capital Management Llc has a 460,711 share stake in Weatherford International Plc which represents 3.78% of their total portfolio. The Fund, Schneider Capital Management Corp, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 3.47% of their total portfolio. Finally Kitzinger Lautmann Capital Management Inc, a fund which is based in the state of Wisconsin reported a total holdings of 1.04 million shares.
According to Zacks Investment Research, “Weatherford International is one of the world’s leading providers of equipment and services used for the drilling, completion and production of oil and natural gas wells. Its operations are conducted in numerous countries and it has service and sales locations in substantially all of the oil and natural gas producing regions in the world. The company’s products and services are divided into the following four principal operating divisions: Drilling and Intervention Services; Completion Systems; Artificial Lift Systems; and Compression Services.”