Weatherford International plc (NYSE:WFT) – Research analysts at Seaport Global Securities cut their FY2018 earnings per share estimates for Weatherford International in a research report issued to clients and investors on Tuesday, October 30th. Seaport Global Securities analyst M. Urban now anticipates that the oil and gas company will post earnings per share of ($0.56) for the year, down from their previous forecast of ($0.55). Seaport Global Securities also issued estimates for Weatherford International’s Q4 2018 earnings at ($0.11) EPS, Q1 2019 earnings at ($0.09) EPS, Q2 2019 earnings at ($0.05) EPS and FY2019 earnings at $0.00 EPS.
Weatherford International (NYSE:WFT) last issued its earnings results on Monday, October 29th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.52 billion. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.58%. Weatherford International’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.22) earnings per share.
Several other analysts have also issued reports on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $2.50 target price on shares of Weatherford International in a research note on Wednesday. UBS Group downgraded Weatherford International from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $5.00 to $2.00 in a research report on Wednesday. Guggenheim downgraded Weatherford International from a “buy” rating to a “neutral” rating in a research report on Wednesday. Credit Suisse Group set a $4.00 price objective on Weatherford International and gave the company a “buy” rating in a research report on Tuesday. Finally, Societe Generale set a $2.00 price objective on Weatherford International and gave the company a “sell” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. Weatherford International presently has an average rating of “Hold” and an average target price of $3.78.
Shares of WFT opened at $1.34 on Thursday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -1.16 and a beta of 2.39. Weatherford International has a 1 year low of $1.10 and a 1 year high of $4.41.
Several institutional investors have recently made changes to their positions in WFT. FMR LLC raised its holdings in shares of Weatherford International by 37.8% during the second quarter. FMR LLC now owns 12,460,897 shares of the oil and gas company’s stock valued at $40,996,000 after acquiring an additional 3,415,343 shares in the last quarter. Perella Weinberg Partners Capital Management LP raised its holdings in shares of Weatherford International by 8.6% during the third quarter. Perella Weinberg Partners Capital Management LP now owns 23,255,018 shares of the oil and gas company’s stock valued at $63,021,000 after acquiring an additional 1,835,110 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Weatherford International by 5.6% during the third quarter. Wedge Capital Management L L P NC now owns 34,487,196 shares of the oil and gas company’s stock valued at $93,460,000 after acquiring an additional 1,829,806 shares in the last quarter. Sandia Holdings LLC raised its holdings in shares of Weatherford International by 33.9% during the second quarter. Sandia Holdings LLC now owns 2,728,262 shares of the oil and gas company’s stock valued at $8,976,000 after acquiring an additional 690,954 shares in the last quarter. Finally, Luminus Management LLC bought a new position in shares of Weatherford International during the second quarter valued at approximately $2,139,000.
In related news, Director William E. Macaulay sold 767,591 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $2.86, for a total transaction of $2,195,310.26. Following the completion of the transaction, the director now owns 399,443 shares in the company, valued at $1,142,406.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Angela A. Minas bought 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were acquired at an average price of $2.45 per share, with a total value of $98,000.00. Following the acquisition, the director now owns 102,711 shares of the company’s stock, valued at $251,641.95. The disclosure for this purchase can be found here. Insiders own 0.44% of the company’s stock.
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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