Weatherford International (NYSE:WFT) – Equities research analysts at SunTrust Banks dropped their Q4 2019 earnings per share estimates for Weatherford International in a research report issued on Wednesday, April 4th. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will earn $0.00 per share for the quarter, down from their prior forecast of $0.04.
Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported ($0.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.12). The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Weatherford International had a negative return on equity of 114.20% and a negative net margin of 49.36%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.32) EPS.
Other analysts have also issued research reports about the stock. UBS set a $6.00 price objective on shares of Weatherford International and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Credit Suisse Group set a $6.00 price objective on shares of Weatherford International and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Gabelli restated a “buy” rating on shares of Weatherford International in a report on Tuesday, January 2nd. Royal Bank of Canada set a $5.00 target price on shares of Weatherford International and gave the stock a “buy” rating in a report on Thursday, December 21st. Finally, Loop Capital lowered their target price on shares of Weatherford International to $7.00 and set a “buy” rating on the stock in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.03.
Shares of WFT stock opened at $2.35 on Friday. The company has a debt-to-equity ratio of -13.21, a quick ratio of 1.19 and a current ratio of 1.74. The firm has a market capitalization of $2,404.55, a PE ratio of -2.03 and a beta of 2.34. Weatherford International has a 12 month low of $2.07 and a 12 month high of $6.61.
In other Weatherford International news, VP Douglas M. Mills sold 17,931 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $4.34, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Douglas M. Mills sold 15,223 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now owns 256,402 shares in the company, valued at $1,043,556.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,226 shares of company stock worth $165,523. Corporate insiders own 0.44% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WFT. OppenheimerFunds Inc. increased its holdings in shares of Weatherford International by 53.8% in the fourth 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. Mackenzie Financial Corp increased its holdings in shares of Weatherford International by 4,460.7% in the fourth quarter. Mackenzie Financial Corp now owns 4,241,467 shares of the oil and gas company’s stock valued at $17,687,000 after purchasing an additional 4,148,467 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of Weatherford International by 13.5% in the fourth 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. Slate Path Capital LP acquired a new position in shares of Weatherford International in the fourth quarter valued at $11,676,000. Finally, Sapience Investments LLC increased its holdings in shares of Weatherford International by 610.2% in the fourth quarter. Sapience Investments LLC now owns 2,985,660 shares of the oil and gas company’s stock valued at $12,450,000 after purchasing an additional 2,565,240 shares during the last quarter.
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About Weatherford International
Weatherford International Plc provides equipment and services to the oil and natural gas exploration and production industry. It operates its business through the following business groups: Formation Evaluation & Well Construction, Completion & Production and Land Drilling Rigs. The Formation Evaluation & Well Construction business group offers services such as controlled-pressure drilling and testing, drilling, tubular running, drilling tools, integrated drilling, wireline services, re-entry and fishing, cementing, liner systems, integrated laboratory services and surface logging.
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