Bank of New York Mellon Corp Boosts Stake in Weatherford International PLC (WFT)

Bank of New York Mellon Corp grew its holdings in Weatherford International PLC (NYSE:WFT) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,516,743 shares of the oil and gas company’s stock after purchasing an additional 94,485 shares during the period. Bank of New York Mellon Corp owned approximately 0.46% of Weatherford International worth $20,687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board increased its holdings in Weatherford International by 13.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 681,310 shares of the oil and gas company’s stock worth $2,637,000 after acquiring an additional 81,400 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Weatherford International by 0.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,800,273 shares of the oil and gas company’s stock worth $14,708,000 after acquiring an additional 10,661 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Weatherford International by 18.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 120,639 shares of the oil and gas company’s stock worth $477,000 after acquiring an additional 18,832 shares during the period. First Mercantile Trust Co. increased its holdings in Weatherford International by 262.4% during the 2nd quarter. First Mercantile Trust Co. now owns 39,500 shares of the oil and gas company’s stock worth $153,000 after acquiring an additional 28,600 shares during the period. Finally, Wedbush Securities Inc. increased its holdings in Weatherford International by 2.3% during the 2nd quarter. Wedbush Securities Inc. now owns 50,613 shares of the oil and gas company’s stock worth $196,000 after acquiring an additional 1,146 shares during the period.

WFT has been the topic of a number of analyst reports. Morgan Stanley decreased their target price on shares of Weatherford International from $5.50 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Sanford C. Bernstein raised shares of Weatherford International from a “market perform” rating to an “outperform” rating in a report on Friday, November 3rd. Scotiabank reaffirmed a “buy” rating on shares of Weatherford International in a report on Tuesday, August 29th. Citigroup lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and set a $4.20 price target on the stock. in a report on Monday, November 6th. Finally, ValuEngine lowered shares of Weatherford International from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $6.07.

Shares of Weatherford International PLC (WFT) traded up $0.01 during trading on Friday, hitting $3.36. 38,310,335 shares of the stock were exchanged, compared to its average volume of 22,500,000. Weatherford International PLC has a 12 month low of $3.08 and a 12 month high of $7.09. The company has a debt-to-equity ratio of 5.44, a current ratio of 2.04 and a quick ratio of 1.33.

Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.02. Weatherford International had a negative net margin of 25.36% and a negative return on equity of 67.44%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company earned ($0.39) EPS. The firm’s revenue was up 7.1% on a year-over-year basis. equities research analysts forecast that Weatherford International PLC will post -1.02 EPS for the current year.

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Weatherford International Profile

Institutional Ownership by Quarter for Weatherford International (NYSE:WFT)

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