Bank of America Initiates Coverage on Weatherford International Plc to Underperform

Bank of America Initiates Coverage on Weatherford International Plc(NYSE:WFT). The shares have been rated Underperform. The rating by Bank of America was issued on Jun 13, 2016.

In a different note, On Jun 6, 2016, Barclays said it Upgrades its rating on Weatherford International Plc. In the research note, the firm Raises the price-target to $7.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 3, 2016, Piper Jaffray said it Upgrades its rating on Weatherford International Plc. The shares have been rated ‘Overweight’ by the firm. On May 19, 2016, Citigroup said it Maintains its rating on Weatherford International Plc. In the research note, the firm Lowers the price-target to $9.00 per share. The shares have been rated ‘Buy’ by the firm. On May 6, 2016, Wells Fargo said it Downgrades its rating on Weatherford International Plc. The shares have been rated ‘Market Perform’ by the firm. On May 6, 2016, Seaport Global said it Upgrades its rating on Weatherford International Plc. The shares have been rated ‘Buy’ by the firm. On May 5, 2016, Stephens & Co. said it Downgrades its rating on Weatherford International Plc. The shares have been rated ‘Underperform’ by the firm.

Weatherford International Plc (WFT) remained unchanged at the close of Friday session. Even as the volume increased to 2,47,81,678 ,the shares failed to make any impression and ended at 0 points or 0.00% at $5.97. The trading session commenced at $6.21 and the stock hit a high of $6.22 and touched $5.93 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $14.09 and the 52-week low is $4.71. The company has a market cap of $5,347 M and has approximately 89,56,90,430 outstanding shares.

Weatherford International Plc(WFT) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.58B. Analysts had an estimated revenue of $1.66B. Earnings per share were $-0.29. Analysts had estimated an EPS of $-0.26.

Several Insider Transactions has been reported to the SEC. On May 10, 2016, Francis S Kalman (director) purchased 30,000 shares at $5.29 per share price.Also, On May 10, 2016, Robert A Rayne (director) purchased 100,000 shares at $5.59 per share price.On May 10, 2016, Douglas M. Mills (VP & Chief Accounting Officer) sold 5,070 shares at $5.65 per share price, according to the Form-4 filing with the securities and exchange commission.

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