Weatherford International Plc (NYSE:WFT) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 158,665,750 shares, a drop of 9.2% from the February 15th total of 174,773,843 shares. Based on an average trading volume of 20,856,296 shares, the short-interest ratio is presently 7.6 days. Approximately 20.7% of the shares of the company are sold short.
A number of brokerages have recently issued reports on WFT. Jefferies Group lowered shares of Weatherford International from a “hold” rating to an “underperform” rating and set a $3.00 target price on the stock. in a research report on Thursday, January 4th. Zacks Investment Research raised Weatherford International from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Credit Suisse Group set a $6.00 price target on Weatherford International and gave the stock a “buy” rating in a report on Tuesday, January 2nd. BMO Capital Markets reaffirmed a “hold” rating on shares of Weatherford International in a report on Thursday, January 25th. Finally, Gabelli reaffirmed a “buy” rating on shares of Weatherford International in a report on Tuesday, January 2nd. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $5.29.
Shares of Weatherford International (WFT) opened at $2.73 on Thursday. Weatherford International has a fifty-two week low of $2.42 and a fifty-two week high of $6.86. The company has a debt-to-equity ratio of -13.21, a current ratio of 1.74 and a quick ratio of 1.19. The company has a market capitalization of $2,690.00, a price-to-earnings ratio of -0.96 and a beta of 2.30.
Weatherford International (NYSE:WFT) last released its earnings results on Friday, February 2nd. The oil and gas company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.12). Weatherford International had a negative net margin of 49.36% and a negative return on equity of 114.20%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business posted ($0.32) EPS. Weatherford International’s revenue was up 6.0% compared to the same quarter last year. equities research analysts expect that Weatherford International will post -0.62 EPS for the current year.
In other news, VP Douglas M. Mills sold 17,931 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $4.34, for a total transaction of $77,820.54. Following the transaction, the vice president now directly owns 238,471 shares in the company, valued at $1,034,964.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Douglas M. Mills sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total transaction of $28,125.00. Following the transaction, the vice president now owns 271,625 shares in the company, valued at $1,018,593.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,726 shares of company stock worth $193,648. Insiders own 1.16% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC acquired a new stake in Weatherford International in the fourth quarter valued at $104,000. Investors Research Corp acquired a new stake in Weatherford International in the fourth quarter valued at $105,000. Balentine LLC lifted its holdings in Weatherford International by 68.5% in the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 14,922 shares during the period. Toronto Dominion Bank lifted its holdings in Weatherford International by 244.5% in the third quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock valued at $181,000 after acquiring an additional 28,070 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Weatherford International by 8.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock valued at $215,000 after acquiring an additional 4,497 shares during the period.
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About Weatherford International
Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.
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