Weatherford International (WFT) Trading Up -1.2%

Shares of Weatherford International (NYSE:WFT) were up 1.2% during mid-day trading on Friday . The stock traded as high as $2.50 and last traded at $2.39. Approximately 8,915,844 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 23,656,494 shares. The stock had previously closed at $2.42.

Several analysts have recently issued reports on WFT shares. Loop Capital set a $5.00 target price on shares of Weatherford International and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Zacks Investment Research upgraded shares of Weatherford International from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Jefferies Group lowered shares of Weatherford International from a “hold” rating to an “underperform” rating and set a $3.00 target price for the company. in a research note on Thursday, January 4th. Bank of America upgraded shares of Weatherford International from an “underperform” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Tuesday, January 16th. Finally, UBS set a $6.00 target price on shares of Weatherford International and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. Weatherford International presently has an average rating of “Hold” and an average price target of $5.03.

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The company has a current ratio of 1.74, a quick ratio of 1.19 and a debt-to-equity ratio of -13.21. The firm has a market capitalization of $2,404.55, a price-to-earnings ratio of -2.03 and a beta of 2.34.

Weatherford International (NYSE:WFT) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.12). The company had revenue of $1.49 billion during 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%. Weatherford International’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) earnings per share. analysts anticipate that Weatherford International will post -0.62 EPS for the current year.

In other Weatherford International news, VP Douglas M. Mills sold 15,223 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $4.07, for a total transaction of $61,957.61. Following the sale, the vice president now directly owns 256,402 shares of the company’s stock, valued at $1,043,556.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Douglas M. Mills sold 17,931 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $4.34, for a total transaction of $77,820.54. Following the sale, the vice president now directly owns 238,471 shares in the company, valued at $1,034,964.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,226 shares of company stock worth $165,523. Insiders own 0.44% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WFT. The Manufacturers Life Insurance Company lifted its holdings in Weatherford International by 8.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock valued at $215,000 after purchasing an additional 4,497 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Weatherford International by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 4,516,743 shares of the oil and gas company’s stock valued at $20,687,000 after purchasing an additional 94,485 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Weatherford International by 11.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 4,230,437 shares of the oil and gas company’s stock valued at $19,376,000 after purchasing an additional 430,164 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Weatherford International by 10.7% during the third quarter. Envestnet Asset Management Inc. now owns 188,828 shares of the oil and gas company’s stock valued at $866,000 after purchasing an additional 18,221 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Weatherford International by 2.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 717,700 shares of the oil and gas company’s stock valued at $3,301,000 after purchasing an additional 14,200 shares during the last quarter.

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Weatherford International Company Profile

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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