Weatherford International Plc (WFT) is Downgraded by Wells Fargo to Market Perform

Weatherford International Plc (WFT) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on May 6, 2016.

Many Wall Street Analysts have commented on Weatherford International Plc. Weatherford International Plc was Initiated by Nomura to “Buy” on Apr 8, 2016. Weatherford International Plc was Upgraded by Goldman to ” Buy” on Mar 11, 2016. DA Davidson Initiated Weatherford International Plc on Feb 19, 2016 to “Buy”, Price Target of the shares are set at $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 closed down -0.51 points or -6.38% at $7.48 with 1,66,81,101 shares getting traded on Wednesday. Post opening the session at $7.97, the shares hit an intraday low of $7.35 and an intraday high of $8.17 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 1, 2016, Douglas M. Mills (VP & Chief Accounting Officer) sold 3,984 shares at $6.50 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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