Weatherford International Plc (NYSE:WFT) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 155,923,053 shares, a growth of 7.0% from the January 12th total of 145,696,410 shares. Based on an average daily volume of 16,784,545 shares, the days-to-cover ratio is currently 9.3 days. Approximately 16.0% of the company’s shares are sold short.
Several research firms have weighed in on WFT. Barclays lowered shares of Weatherford International from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $6.00 to $3.50 in a report on Tuesday. Seaport Global Securities restated a “buy” rating and issued a $6.00 price objective on shares of Weatherford International in a report on Monday, February 5th. Loop Capital set a $5.00 price objective on shares of Weatherford International and gave the stock a “buy” rating in a report on Tuesday, February 6th. Societe Generale upgraded shares of Weatherford International from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Finally, BMO Capital Markets decreased their price objective on shares of Weatherford International from $5.50 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Six research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Weatherford International currently has an average rating of “Hold” and an average target price of $5.48.
Weatherford International (NYSE WFT) traded down $0.02 during trading on Wednesday, reaching $2.74. 19,248,554 shares of the company’s stock were exchanged, compared to its average volume of 27,800,000. The firm has a market cap of $2,740.00, a price-to-earnings ratio of -1.65 and a beta of 2.07. Weatherford International has a 12 month low of $2.62 and a 12 month high of $7.09. The company has a debt-to-equity ratio of 5.44, a quick ratio of 1.33 and a current ratio of 2.04.
Weatherford International (NYSE:WFT) last released its earnings results on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.12). The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. Weatherford International had a negative return on equity of 75.02% and a negative net margin of 49.36%. Weatherford International’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.32) earnings per share. analysts predict that Weatherford International will post -0.61 EPS for the current year.
In other Weatherford International news, VP Douglas M. Mills sold 15,223 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $4.07, for a total value of $61,957.61. Following the transaction, the vice president now directly owns 256,402 shares in the company, valued at approximately $1,043,556.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Douglas M. Mills sold 17,931 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $4.34, for a total transaction of $77,820.54. Following the completion of the transaction, the vice president now owns 238,471 shares in the company, valued at $1,034,964.14. The disclosure for this sale can be found here. Insiders sold a total of 46,726 shares of company stock worth $193,648 over the last quarter. 1.16% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Weatherford International by 3.3% during the 2nd quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock worth $195,718,000 after buying an additional 1,617,102 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Weatherford International by 13.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 31,579,597 shares of the oil and gas company’s stock valued at $131,687,000 after purchasing an additional 3,744,073 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Weatherford International by 12.5% in the 3rd quarter. Van ECK Associates Corp now owns 26,859,040 shares of the oil and gas company’s stock valued at $123,014,000 after purchasing an additional 2,979,183 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Weatherford International by 53.8% in the 4th quarter. OppenheimerFunds Inc. now owns 14,524,587 shares of the oil and gas company’s stock valued at $60,568,000 after purchasing an additional 5,083,495 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Weatherford International by 7.9% in the 4th quarter. Thrivent Financial For Lutherans now owns 14,341,730 shares of the oil and gas company’s stock valued at $59,805,000 after purchasing an additional 1,050,981 shares during the last quarter.
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Weatherford International Company 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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