Weatherford International Plc (WFT) is Upgraded by Seaport Global Securities to Buy, Lowers Price Target to $ 7

Weatherford International Plc (WFT) was Upgraded by Seaport Global Securities to ” Buy” while Lowering the Price Target of the company shares to $ 7 from a previous price target of $7.50 . Earlier the firm had a rating of “Neutral ” on the company shares. Seaport Global Securities 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 Downgraded by Wells Fargo to ” Market Perform” on May 6, 2016. 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.

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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