Bessemer Group Inc. boosted its stake in Weatherford International Plc (NYSE:WFT) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 339,901 shares of the oil and gas company’s stock after purchasing an additional 18,568 shares during the period. Bessemer Group Inc.’s holdings in Weatherford International were worth $1,417,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia grew its stake in shares of Weatherford International by 825.9% in the second quarter. Bank of Nova Scotia now owns 331,000 shares of the oil and gas company’s stock worth $1,281,000 after acquiring an additional 376,600 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Weatherford International during the third quarter worth $392,000. Exane Derivatives lifted its position in Weatherford International by 114.8% in the fourth quarter. Exane Derivatives now owns 946,272 shares of the oil and gas company’s stock valued at $3,935,000 after acquiring an additional 505,681 shares during the last quarter. Timber Hill LLC purchased a new stake in Weatherford International in the third quarter valued at $280,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Weatherford International by 35.9% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 412,589 shares of the oil and gas company’s stock valued at $1,890,000 after acquiring an additional 109,098 shares during the last quarter.
In other Weatherford International news, VP Douglas M. Mills sold 15,223 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $4.07, for a total transaction of $61,957.61. Following the transaction, the vice president now owns 256,402 shares of the company’s stock, valued at $1,043,556.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Douglas M. Mills sold 17,931 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was 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 approximately $1,034,964.14. The disclosure for this sale can be found here. Insiders have sold 46,726 shares of company stock worth $193,648 in the last three months. Insiders own 1.16% of the company’s stock.
Shares of Weatherford International Plc (NYSE WFT) traded down $0.04 on Wednesday, hitting $2.72. 9,481,167 shares of the company traded hands, compared to its average volume of 26,984,545. The company has a quick ratio of 1.33, a current ratio of 2.04 and a debt-to-equity ratio of 5.44. The stock has a market capitalization of $2,740.00, a P/E ratio of -1.65 and a beta of 2.07. Weatherford International Plc has a fifty-two week low of $2.62 and a fifty-two week high of $7.09.
Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.12). The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Weatherford International had a negative net margin of 49.36% and a negative return on equity of 75.02%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.32) EPS. equities research analysts expect that Weatherford International Plc will post -0.61 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on WFT. Barclays cut shares of Weatherford International from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $6.00 to $3.50 in a research report on Tuesday. Loop Capital set a $5.00 target price on shares of Weatherford International and gave the company a “buy” rating in a report on Tuesday, February 6th. Guggenheim set a $7.00 target price on shares of Weatherford International and gave the company a “buy” rating in a report on Monday, February 5th. Credit Suisse Group reduced their target price on shares of Weatherford International from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Finally, Tudor Pickering cut shares of Weatherford International from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Weatherford International has an average rating of “Hold” and a consensus price target of $5.48.
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Weatherford International Profile
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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