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.
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.
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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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