Weatherford International (WFT) Sees Significant Drop in Short Interest

Weatherford International (NYSE:WFT) saw a large decrease in short interest in April. As of April 30th, there was short interest totalling 146,833,034 shares, a decrease of 11.8% from the April 13th total of 166,408,339 shares. Based on an average daily trading volume, of 23,206,788 shares, the short-interest ratio is presently 6.3 days. Currently, 14.9% of the company’s stock are sold short.

A number of institutional investors have recently bought and sold shares of the stock. Icon Wealth Partners LLC grew its holdings in Weatherford International by 25.3% during the first quarter. Icon Wealth Partners LLC now owns 79,927 shares of the oil and gas company’s stock worth $183,000 after acquiring an additional 16,156 shares during the period. Aperio Group LLC grew its holdings in Weatherford International by 10.8% during the fourth quarter. Aperio Group LLC now owns 169,133 shares of the oil and gas company’s stock worth $705,000 after acquiring an additional 16,437 shares during the period. Brown Advisory Inc. grew its holdings in Weatherford International by 18.8% during the fourth quarter. Brown Advisory Inc. now owns 111,546 shares of the oil and gas company’s stock worth $465,000 after acquiring an additional 17,662 shares during the period. American International Group Inc. grew its holdings in Weatherford International by 39.2% during the fourth quarter. American International Group Inc. now owns 65,572 shares of the oil and gas company’s stock worth $273,000 after acquiring an additional 18,462 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Weatherford International by 5.8% during the fourth quarter. Bessemer Group Inc. now owns 339,901 shares of the oil and gas company’s stock worth $1,417,000 after acquiring an additional 18,568 shares during the period.

Several research analysts recently issued reports on the company. Piper Jaffray set a $2.00 target price on Weatherford International and gave the company a “hold” rating in a research report on Tuesday, April 24th. Jefferies Group set a $3.00 target price on Weatherford International and gave the company a “hold” rating in a research report on Tuesday, April 24th. Susquehanna Bancshares set a $4.00 target price on Weatherford International and gave the company a “buy” rating in a research report on Monday, April 9th. Cowen set a $5.00 target price on Weatherford International and gave the company a “buy” rating in a research report on Friday, April 13th. Finally, Zacks Investment Research lowered Weatherford International from a “hold” rating to a “sell” rating in a research report on Sunday, January 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $4.73.

Shares of Weatherford International opened at $3.56 on Thursday, MarketBeat reports. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of -8.51. The stock has a market capitalization of $3.44 billion, a PE ratio of -3.07 and a beta of 2.29. Weatherford International has a fifty-two week low of $3.43 and a fifty-two week high of $3.51.

Weatherford International (NYSE:WFT) last posted its earnings results on Tuesday, April 24th. The oil and gas company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.04. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.50%. Weatherford International’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned ($0.32) earnings per share. research analysts anticipate that Weatherford International will post -0.56 EPS for the current year.

Weatherford International Company Profile

Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.

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