Investors Buy Shares of Weatherford International (WFT) on Weakness

Investors purchased shares of Weatherford International Plc (NYSE:WFT) on weakness during trading hours on Tuesday. $53.93 million flowed into the stock on the tick-up and $34.57 million flowed out of the stock on the tick-down, for a money net flow of $19.36 million into the stock. Of all companies tracked, Weatherford International had the 28th highest net in-flow for the day. Weatherford International traded down ($0.71) for the day and closed at $3.46

A number of analysts have weighed in on WFT shares. Citigroup raised their price objective on shares of Weatherford International from $5.30 to $5.60 and gave the company a “buy” rating in a research note on Thursday, October 5th. Jefferies Group set a $5.00 price target on shares of Weatherford International and gave the stock a “hold” rating in a research note on Thursday, October 5th. Cowen set a $8.00 price target on shares of Weatherford International and gave the stock a “buy” rating in a research note on Friday, October 6th. Royal Bank of Canada set a $6.00 price target on shares of Weatherford International and gave the stock a “buy” rating in a research note on Sunday, October 8th. Finally, Deutsche Bank started coverage on shares of Weatherford International in a research note on Tuesday, October 10th. They issued a “buy” rating and a $6.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $5.94.

The company has a debt-to-equity ratio of 5.44, a current ratio of 2.04 and a quick ratio of 1.33. The firm has a market capitalization of $3,640.00, a price-to-earnings ratio of -2.57 and a beta of 2.32.

Weatherford International (NYSE:WFT) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. Weatherford International had a negative net margin of 25.36% and a negative return on equity of 67.44%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.39) earnings per share. analysts expect that Weatherford International Plc will post -1.02 EPS for the current year.

In related news, VP Douglas M. Mills sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $3.75, for a total value of $28,125.00. Following the transaction, the vice president now owns 271,625 shares of the company’s stock, valued at $1,018,593.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.16% of the company’s stock.

Large investors have recently modified their holdings of the business. Quantitative Systematic Strategies LLC purchased a new position in Weatherford International during the third quarter valued at approximately $123,000. Private Advisor Group LLC lifted its holdings in Weatherford International by 63.2% during the second quarter. Private Advisor Group LLC now owns 39,207 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 15,178 shares in the last quarter. CIBC World Markets Inc. purchased a new position in Weatherford International during the second quarter valued at approximately $161,000. Balentine LLC lifted its holdings in Weatherford International by 68.5% during the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock valued at $168,000 after purchasing an additional 14,922 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Weatherford International by 244.5% during the third quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock valued at $181,000 after purchasing an additional 28,070 shares in the last quarter.

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Weatherford International Company Profile

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