Wall Street’s take on Weatherford International
In this final part of the series, we’ll see how Wall Street views Weatherford International (WFT) and what its target price is as of December 26, 2017.
Analysts’ ratings for Weatherford International
On December 26, 2017, 78% of the Wall Street analysts tracking Weatherford International rated it a “buy” or some equivalent. Approximately 19% rated it a “hold,” and the rest rated it a “sell,” according to data compiled by Reuters. By comparison, 79% of the sell-side analysts tracking Tetra Technologies (TTI) rated it a “buy” or some equivalent, while 21% rated it a “hold.”
Analysts’ rating changes for WFT
From September 26, 2017, to December 26, 2017, the percentage of analysts recommending a “buy” or some equivalent for WFT has increased from 73% to 78%. Analysts’ “hold” recommendations have also increased during the same period. A year ago, 73% of sell-side analysts were recommending a “buy.” Weatherford International makes up 0.01% of the iShares Russell 1000 ETF (IWB). In the past year, IWB has risen 18% compared to a 21% fall in WFT stock.
Analysts’ target prices for WFT and its peers
Wall Street analysts’ mean target price for WFT on December 26, 2017, was ~$5.50. WFT is currently trading at $4, implying a 35% upside to its current price. A month ago, analysts’ average target price for WFT was $5.50.
The mean target price surveyed among sell-side analysts for Oil States International (OIS) is $25.90. OIS is currently trading at $28.90, implying a 10% downside to its current price. The mean target price surveyed among sell-side analysts for Oceaneering International (OII) is $20.20. OII is currently trading at $20.90, implying a -3% potential return at its current price.
You can find out more about the oilfield services and equipment industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.