Weatherford International PLC Target of Unusually High Options Trading (NYSE:WFT)

Weatherford International PLC (NYSE:WFT) saw some unusual options trading on Wednesday. Investors bought 11,882 call options on the company. This represents an increase of approximately 554% compared to the typical volume of 1,816 call options.

WFT has been the subject of a number of recent research reports. BMO Capital Markets increased their price objective on Weatherford International PLC from $4.75 to $5.50 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Scotiabank set a $6.00 price objective on Weatherford International PLC and gave the company a “hold” rating in a research report on Friday, July 7th. Zacks Investment Research upgraded Weatherford International PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Deutsche Bank AG reiterated a “buy” rating and set a $7.00 price objective (down previously from $8.00) on shares of Weatherford International PLC in a research report on Tuesday, May 30th. Finally, BidaskClub upgraded Weatherford International PLC from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $6.39.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Greenwood Capital Associates LLC grew its stake in Weatherford International PLC by 0.8% in the 1st quarter. Greenwood Capital Associates LLC now owns 32,964 shares of the oil and gas company’s stock valued at $220,000 after buying an additional 259 shares during the last quarter. Intl Fcstone Inc. grew its stake in Weatherford International PLC by 0.8% in the 1st quarter. Intl Fcstone Inc. now owns 55,793 shares of the oil and gas company’s stock valued at $278,000 after buying an additional 437 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Weatherford International PLC by 1.5% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 33,000 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 500 shares during the last quarter. World Asset Management Inc grew its stake in Weatherford International PLC by 2.0% in the 1st quarter. World Asset Management Inc now owns 50,937 shares of the oil and gas company’s stock valued at $339,000 after buying an additional 1,020 shares during the last quarter. Finally, Wedbush Securities Inc. grew its stake in Weatherford International PLC by 2.3% in the 2nd quarter. Wedbush Securities Inc. now owns 50,613 shares of the oil and gas company’s stock valued at $196,000 after buying an additional 1,146 shares during the last quarter.

Weatherford International PLC (NYSE:WFT) remained flat at $4.42 during midday trading on Friday. 18,093,572 shares of the stock were exchanged. The company’s market capitalization is $4.37 billion. The stock has a 50 day moving average price of $4.09 and a 200-day moving average price of $4.90. Weatherford International PLC has a 12 month low of $3.39 and a 12 month high of $7.09.

Weatherford International PLC (NYSE:WFT) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.28). Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business earned ($0.28) EPS. Weatherford International PLC’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts expect that Weatherford International PLC will post ($1.03) EPS for the current fiscal year.

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Weatherford International PLC Company Profile

Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.

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