Weatherford International (NYSE:WFT) Sees Significant Decrease in Short Interest

Weatherford International (NYSE:WFT) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 158,665,750 shares, a decline of 9.2% from the February 15th total of 174,773,843 shares. Approximately 20.7% of the shares of the company are sold short. Based on an average daily trading volume, of 20,856,296 shares, the short-interest ratio is presently 7.6 days.

Several research analysts have weighed in on WFT shares. Royal Bank of Canada set a $5.00 target price on Weatherford International and gave the company a “buy” rating in a research note on Thursday, December 21st. ValuEngine downgraded Weatherford International from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Seaport Global Securities reiterated a “buy” rating and issued a $6.00 target price on shares of Weatherford International in a research note on Monday, February 5th. Barclays downgraded Weatherford International from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $6.00 to $3.50 in a research note on Tuesday, February 13th. Finally, UBS set a $6.00 target price on Weatherford International and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. Weatherford International has a consensus rating of “Hold” and a consensus target price of $5.03.

How to Become a New Pot Stock Millionaire

In other Weatherford International news, VP Douglas M. Mills sold 6,072 shares of Weatherford International stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $4.24, for a total transaction of $25,745.28. Following the transaction, the vice president now owns 232,399 shares of the company’s stock, valued at $985,371.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Douglas M. Mills sold 15,223 shares of Weatherford International stock in a transaction that occurred on Thursday, January 18th. The stock was 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,226 shares of company stock worth $165,523. 0.44% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wedge Capital Management L L P NC boosted its position in Weatherford International by 13.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 31,579,597 shares of the oil and gas company’s stock worth $131,687,000 after purchasing an additional 3,744,073 shares in the last quarter. Van ECK Associates Corp boosted its position in Weatherford International by 12.5% during the third quarter. Van ECK Associates Corp now owns 26,859,040 shares of the oil and gas company’s stock worth $123,014,000 after purchasing an additional 2,979,183 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Weatherford International by 53.8% during the fourth quarter. OppenheimerFunds Inc. now owns 14,524,587 shares of the oil and gas company’s stock worth $60,568,000 after purchasing an additional 5,083,495 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in Weatherford International by 7.9% during the fourth quarter. Thrivent Financial For Lutherans now owns 14,341,730 shares of the oil and gas company’s stock worth $59,805,000 after purchasing an additional 1,050,981 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Weatherford International by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 8,656,567 shares of the oil and gas company’s stock worth $36,097,000 after purchasing an additional 128,703 shares in the last quarter.

Shares of Weatherford International stock traded down $0.07 during trading on Friday, reaching $2.35. The company’s stock had a trading volume of 17,120,951 shares, compared to its average volume of 20,267,410. 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 cap of $2,335.00, 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.

Weatherford International (NYSE:WFT) last posted its earnings results 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 firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Weatherford International had a negative return on equity of 114.20% and a negative net margin of 49.36%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. equities research analysts anticipate that Weatherford International will post -0.62 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/04/08/weatherford-international-plc-wft-short-interest-update.html.

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.

Receive News & Ratings for Weatherford International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weatherford International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply