Weatherford International Plc (WFT) is Downgraded by Societe Generale to Hold

Weatherford International Plc (WFT) was Downgraded by Societe Generale to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Societe Generale advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on Weatherford International Plc. Shares were Reiterated by KLR Group on May 9, 2016 to “Accumulate” and Lowered the Price Target to $ 7.25 from a previous price target of $9.25 .Shares were Upgraded by Seaport Global Securities on May 6, 2016 to ” Buy” and Lowered the Price Target to $ 7 from a previous price target of $7.50 .Shares were Reiterated by Scotia Howard Weil on May 6, 2016 to “Sector Perform” and Lowered the Price Target to $ 8 from a previous price target of $9 .

On the company’s financial health, Weatherford International Plc reported $-0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $-0.19. The company had revenue of $2012.00 million for the quarter, compared to analysts expectations of $2019.12 million. The company’s revenue was down -46.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.32 EPS.

Weatherford International Plc (WFT) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $5.66 and reached the intraday high at $5.96. The bulls started the profit booking and pushed the shares to intraday low of $5.56. The trading session was marked by a volume range of 2,67,42,691 shares exchanging hands. The 52-week high of the shares is $14.9 and the 52-week low is $4.95. The market cap of the company stands at $5,079 M and there are 89,56,90,430 shares in public circulation.

In a different news, on May 10, 2016, Douglas M. Mills (VP & Chief Accounting Officer) sold 5,070 shares at $5.65 per share price. According to the SEC, on Sep 24, 2015, Bernard J Duroc-danner (Chairman, Pres and CEO) sold 610,482 shares at $9.15 per share price. On Sep 23, 2015, Krishna Shivram (CFO) purchased 33,750 shares at $8.83 per share price, according to the Form-4 filing with the securities and exchange commission.

Weatherford International Plc

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