Weatherford International (WFT) Reaches New 1-Year Low at $1.09

Weatherford International plc (NYSE:WFT) hit a new 52-week low on Friday . The stock traded as low as $1.09 and last traded at $1.19, with a volume of 1185868 shares. The stock had previously closed at $1.21.

Several equities research analysts have recently weighed in on WFT shares. BMO Capital Markets set a $3.00 price target on Weatherford International and gave the stock a “buy” rating in a report on Tuesday. Tudor Pickering upgraded Weatherford International from a “sell” rating to a “buy” rating in a report on Monday, August 20th. Jefferies Financial Group set a $1.00 price target on Weatherford International and gave the stock a “hold” rating in a report on Monday. Wolfe Research started coverage on Weatherford International in a report on Wednesday, October 10th. They issued a “peer perform” rating on the stock. Finally, Piper Jaffray Companies set a $2.00 price target on Weatherford International and gave the stock a “hold” rating in a report on Tuesday, October 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Weatherford International currently has a consensus rating of “Hold” and a consensus target price of $3.50.

The firm has a market capitalization of $1.32 billion, a P/E ratio of -0.97 and a beta of 2.84.

Weatherford International (NYSE:WFT) last released its quarterly earnings data on Monday, October 29th. The oil and gas company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.52 billion. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.58%. Weatherford International’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business posted ($0.22) EPS. As a group, analysts expect that Weatherford International plc will post -0.57 earnings per share for the current fiscal year.

In other Weatherford International news, Director William E. Macaulay sold 767,591 shares of the firm’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 transaction, the director now directly owns 399,443 shares in the company, valued at approximately $1,142,406.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Angela A. Minas acquired 40,000 shares of Weatherford International stock in a transaction on Monday, September 17th. The shares were purchased at an average price of $2.45 per share, for a total transaction of $98,000.00. Following the completion of the acquisition, the director now directly owns 102,711 shares in the company, valued at $251,641.95. The disclosure for this purchase can be found here. Company insiders own 0.44% of the company’s stock.

Several large investors have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Weatherford International by 0.4% in the 3rd quarter. FMR LLC now owns 12,510,630 shares of the oil and gas company’s stock valued at $33,903,000 after acquiring an additional 49,733 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Weatherford International by 12.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 431,289 shares of the oil and gas company’s stock valued at $1,167,000 after acquiring an additional 47,035 shares during the period. Violich Capital Management Inc. increased its holdings in shares of Weatherford International by 323.1% in the 3rd quarter. Violich Capital Management Inc. now owns 110,000 shares of the oil and gas company’s stock valued at $298,000 after acquiring an additional 84,000 shares during the period. Commonwealth Bank of Australia purchased a new position in shares of Weatherford International in the 3rd quarter valued at $539,000. Finally, Oarsman Capital Inc. increased its holdings in shares of Weatherford International by 77.1% in the 3rd quarter. Oarsman Capital Inc. now owns 1,139,654 shares of the oil and gas company’s stock valued at $3,088,000 after acquiring an additional 496,255 shares during the period.

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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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