Weatherford International (WFT) Shares Gap Down to $2.06

Weatherford International plc (NYSE:WFT) shares gapped down before the market opened on Friday . The stock had previously closed at $2.12, but opened at $2.06. Weatherford International shares last traded at $1.98, with a volume of 42388410 shares.

Several research analysts have commented on WFT shares. Tudor Pickering upgraded Weatherford International from a “sell” rating to a “buy” rating in a report on Monday, August 20th. BMO Capital Markets set a $4.00 price target on Weatherford International and gave the company a “buy” rating in a report on Wednesday, July 11th. Morgan Stanley initiated coverage on Weatherford International in a report on Tuesday, September 18th. They issued an “equal weight” rating and a $4.00 price target on the stock. ValuEngine upgraded Weatherford International from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, Jefferies Financial Group set a $4.00 price target on Weatherford International and gave the company a “hold” rating in a report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $4.28.

The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -1.71 and a beta of 2.39.



Weatherford International (NYSE:WFT) last announced its earnings results on Friday, July 27th. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 46.44%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the business earned ($0.28) EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts expect that Weatherford International plc will post -0.57 earnings per share for the current fiscal year.

In other Weatherford International news, Director Angela A. Minas bought 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were purchased at an average cost of $2.45 per share, for a total transaction of $98,000.00. Following the purchase, the director now directly owns 102,711 shares in the company, valued at $251,641.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William E. Macaulay sold 767,591 shares of the business’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $2.86, for a total value of $2,195,310.26. Following the transaction, the director now owns 399,443 shares in the company, valued at $1,142,406.98. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Northern Trust Corp lifted its position in Weatherford International by 3.3% during the 1st quarter. Northern Trust Corp now owns 4,817,117 shares of the oil and gas company’s stock worth $11,032,000 after acquiring an additional 152,302 shares during the period. Summit Trail Advisors LLC lifted its position in Weatherford International by 27.7% during the 1st quarter. Summit Trail Advisors LLC now owns 250,625 shares of the oil and gas company’s stock worth $512,000 after acquiring an additional 54,348 shares during the period. State of Alaska Department of Revenue lifted its position in Weatherford International by 40.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 97,070 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 27,750 shares during the period. Berkshire Asset Management LLC PA lifted its position in Weatherford International by 37.2% during the 2nd quarter. Berkshire Asset Management LLC PA now owns 55,612 shares of the oil and gas company’s stock worth $183,000 after acquiring an additional 15,071 shares during the period. Finally, Amalgamated Bank lifted its position in Weatherford International by 12.4% during the 2nd quarter. Amalgamated Bank now owns 188,761 shares of the oil and gas company’s stock worth $621,000 after acquiring an additional 20,836 shares during the period.

About Weatherford International (NYSE:WFT)

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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