Weatherford International (WFT) Short Interest Update

Weatherford International (NYSE:WFT) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 168,736,698 shares, an increase of 6.3% from the February 28th total of 158,665,750 shares. Based on an average daily trading volume, of 18,085,916 shares, the days-to-cover ratio is currently 9.3 days. Approximately 17.2% of the company’s stock are sold short.

Shares of WFT opened at $2.29 on Monday. Weatherford International has a twelve month low of $2.19 and a twelve month high of $6.86. The firm has a market capitalization of $2,275.38, a PE ratio of -1.97 and a beta of 2.31. The company has a current ratio of 1.74, a quick ratio of 1.19 and a debt-to-equity ratio of -13.21.

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Weatherford International (NYSE:WFT) last posted its earnings results on Friday, February 2nd. The oil and gas company reported ($0.33) EPS 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 net margin of 49.36% and a negative return on equity of 114.20%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned ($0.32) earnings per share. equities analysts expect that Weatherford International will post -0.61 EPS for the current year.

In other Weatherford International news, VP Douglas M. Mills sold 17,931 shares of the stock in a transaction that occurred on 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 approximately $1,034,964.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Douglas M. Mills sold 6,072 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $4.24, for a total transaction of $25,745.28. Following the sale, the vice president now owns 232,399 shares in the company, valued at $985,371.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,226 shares of company stock worth $165,523. 0.44% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of WFT. The Manufacturers Life Insurance Company grew its position in shares of Weatherford International by 8.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock valued at $215,000 after buying an additional 4,497 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Weatherford International by 2.1% in the 3rd 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 buying an additional 94,485 shares during the last quarter. ETRADE Capital Management LLC grew its position in shares of Weatherford International by 29.4% in the 3rd quarter. ETRADE Capital Management LLC now owns 133,199 shares of the oil and gas company’s stock valued at $610,000 after buying an additional 30,258 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Weatherford International by 11.3% in the 3rd 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 buying an additional 430,164 shares during the last quarter. Finally, Poplar Forest Capital LLC grew its position in shares of Weatherford International by 20.4% in the 3rd quarter. Poplar Forest Capital LLC now owns 6,570,426 shares of the oil and gas company’s stock valued at $30,093,000 after buying an additional 1,113,235 shares during the last quarter.

A number of research firms have issued reports on WFT. BMO Capital Markets reiterated a “hold” rating on shares of Weatherford International in a report on Thursday, January 25th. Bank of America upgraded shares of Weatherford International from an “underperform” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Tuesday, January 16th. Zacks Investment Research upgraded shares of Weatherford International from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Gabelli reiterated a “buy” rating on shares of Weatherford International in a report on Tuesday, January 2nd. Finally, ValuEngine lowered shares of Weatherford International from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.25.

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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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