BMO Capital Sticks to Their Buy Rating for Weatherford

By Ryan Adsit

BMO Capital analyst Daniel Boyd reiterated a Buy rating on Weatherford (NYSE: WFT) yesterday and set a price target of $7. The company’s shares opened today at $3.89, close to its 52-week low of $3.69.

According to, Boyd is a 4-star analyst with an average return of 6.0% and a 56.5% success rate. Boyd covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oil States International, and Rice Midstream Partners.

Currently, the analyst consensus on Weatherford is Moderate Buy and the average price target is $6.89, representing a 77.1% upside.

In a report released yesterday, Barclays also upgraded the stock to Buy with a $6 price target.

Based on Weatherford’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.39 billion and GAAP net loss of $448 million. In comparison, last year the company earned revenue of $1.59 billion and had a GAAP net loss of $498 million.

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Weatherford International Plc provides equipment and services to the oil and natural gas exploration and production industry. It operates its business through the following business groups: Formation Evaluation & Well Construction, Completion & Production and Land Drilling Rigs. The Formation Evaluation & Well Construction business group offers services such as controlled-pressure drilling and testing, drilling, tubular running, drilling tools, integrated drilling, wireline services, re-entry and fishing, cementing, liner systems, integrated laboratory services and surface logging. The Completion & Production business group pertains for service lines, including artificial lift systems, stimulation and chemicals, completion systems and pipeline and specialty services. The Land Drilling Rigs provides onshore contract drilling services and related operations to the oil and gas industries globally. The company was founded in 1941 and is headquartered in Baar, Switzerland.,0DRJN7-E