Weatherford International (WFT) Trading Up 5.7%

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Shares of Weatherford International plc (NYSE:WFT) were up 5.7% during mid-day trading on Tuesday . The company traded as high as $0.79 and last traded at $0.83. Approximately 12,490,026 shares were traded during trading, a decline of 40% from the average daily volume of 20,957,276 shares. The stock had previously closed at $0.79.

A number of analysts recently issued reports on WFT shares. BMO Capital Markets cut Weatherford International from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $2.50 to $1.00 in a research note on Wednesday, January 9th. Credit Suisse Group reaffirmed a “buy” rating and set a $1.00 price target on shares of Weatherford International in a research report on Sunday, February 3rd. Capital One Financial downgraded Weatherford International from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 16th. Raymond James reaffirmed a “sell” rating on shares of Weatherford International in a research report on Monday, December 17th. Finally, Wells Fargo & Co downgraded Weatherford International from an “outperform” rating to a “market perform” rating and set a $2.00 price target for the company. in a research report on Tuesday, December 11th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Weatherford International has an average rating of “Hold” and a consensus price target of $2.07.

The firm has a market cap of $732.27 million, a P/E ratio of -1.39 and a beta of 2.20.

Weatherford International (NYSE:WFT) last released its quarterly earnings data on Friday, February 1st. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm posted ($0.33) earnings per share. On average, sell-side analysts anticipate that Weatherford International plc will post -0.36 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WFT. HRT Financial LLC raised its stake in Weatherford International by 30.5% in the 4th quarter. HRT Financial LLC now owns 51,028 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 11,936 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Weatherford International by 19.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 137,909 shares of the oil and gas company’s stock valued at $77,000 after acquiring an additional 22,025 shares during the period. Two Sigma Securities LLC raised its stake in Weatherford International by 11.2% in the 4th quarter. Two Sigma Securities LLC now owns 283,031 shares of the oil and gas company’s stock valued at $158,000 after acquiring an additional 28,414 shares during the period. B. Riley Wealth Management Inc. bought a new stake in Weatherford International in the 3rd quarter valued at $80,000. Finally, Matthew Goff Investment Advisor LLC bought a new stake in Weatherford International in the 3rd quarter valued at $8,993,000. 85.75% of the stock is owned by institutional investors.

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Weatherford International Company Profile (NYSE:WFT)

Weatherford International plc, an oilfield service company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. The company operates in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing and fluid systems, cementing, and coiled-tubing intervention; and drill stem test tools, and surface well testing and multiphase flow measurement services.

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