Weatherford International (WFT) Shares Down 6.1%

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Weatherford International plc (NYSE:WFT) shares fell 6.1% on Thursday . The stock traded as low as $2.44 and last traded at $2.45. 18,595,754 shares traded hands during trading, a decline of 4% from the average session volume of 19,437,020 shares. The stock had previously closed at $2.61.

Several brokerages have recently weighed in on WFT. Bank of America began coverage on shares of Weatherford International in a research note on Wednesday. They set an “underperform” rating on the stock. Societe Generale cut shares of Weatherford International from a “buy” rating to a “sell” rating and set a $2.00 price target on the stock. in a research note on Friday, October 12th. Wolfe Research began coverage on shares of Weatherford International in a research note on Wednesday, October 10th. They set a “peer perform” rating on the stock. Morgan Stanley began coverage on shares of Weatherford International in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $4.00 price target on the stock. Finally, Stifel Nicolaus began coverage on shares of Weatherford International in a research note on Monday, September 10th. They set a “hold” rating and a $3.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $4.28.

The company has a debt-to-equity ratio of -5.82, a quick ratio of 1.16 and a current ratio of 1.68. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -2.16 and a beta of 2.38.

Weatherford International (NYSE:WFT) last released its earnings results on Friday, July 27th. The oil and gas company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. Weatherford International had a negative net margin of 46.44% and a negative return on equity of 283.53%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the company earned ($0.28) EPS. Weatherford International’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts forecast that Weatherford International plc will post -0.56 earnings per share for the current year.

In related news, Director Angela A. Minas purchased 40,000 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were acquired at an average price 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $2,195,310.26. Following the completion of the sale, the director now owns 399,443 shares in the company, valued at approximately $1,142,406.98. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC lifted its stake in Weatherford International by 100.0% in the 2nd quarter. Crewe Advisors LLC now owns 136,846 shares of the oil and gas company’s stock worth $382,000 after purchasing an additional 68,423 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Weatherford International by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,245,369 shares of the oil and gas company’s stock worth $13,967,000 after purchasing an additional 89,037 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Weatherford International by 13.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,273,299 shares of the oil and gas company’s stock worth $17,350,000 after purchasing an additional 634,542 shares in the last quarter. Sustainable Insight Capital Management LLC purchased a new stake in Weatherford International in the 2nd quarter worth $720,000. Finally, Sandia Holdings LLC lifted its stake in Weatherford International by 33.9% in the 2nd quarter. Sandia Holdings LLC now owns 2,728,262 shares of the oil and gas company’s stock worth $8,976,000 after purchasing an additional 690,954 shares in the last quarter.

Weatherford International Company Profile (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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