Traders Buy Weatherford International Ltd. (WFT) on Weakness
Traders purchased shares of Weatherford International Ltd. (NYSE:WFT) on weakness during trading on Thursday. $16.79 million flowed into the stock on the tick-up and $8.08 million flowed out of the stock on the tick-down, for a money net flow of $8.71 million into the stock. Of all stocks tracked, Weatherford International had the 28th highest net in-flow for the day. Weatherford International traded down ($0.05) for the day and closed at $5.39
Several equities analysts have recently weighed in on WFT shares. Robert W. Baird restated a “hold” rating on shares of Weatherford International in a research report on Sunday, May 8th. Jefferies Group restated a “buy” rating and issued a $8.00 target price on shares of Weatherford International in a research report on Sunday, July 10th. Stephens downgraded Weatherford International from an “equal weight” rating to an “underweight” rating in a research report on Thursday, May 5th. Citigroup Inc. decreased their target price on Weatherford International from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Finally, KLR Group restated an “accumulate” rating and issued a $7.25 target price (down previously from $9.25) on shares of Weatherford International in a research report on Monday, May 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Weatherford International has an average rating of “Buy” and an average target price of $9.54.
The firm’s 50 day moving average is $5.73 and its 200-day moving average is $6.43. The stock’s market capitalization is $4.83 billion.
Weatherford International (NYSE:WFT) last issued its earnings results on Wednesday, July 27th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.02. The firm earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the business posted ($0.10) earnings per share. The company’s quarterly revenue was down 41.3% compared to the same quarter last year. On average, analysts anticipate that Weatherford International Ltd. will post ($1.03) earnings per share for the current fiscal year.
In related news, Director Francis S. Kalman purchased 30,000 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average cost of $5.29 per share, for a total transaction of $158,700.00. Following the acquisition, the director now owns 70,056 shares in the company, valued at $370,596.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Douglas M. Mills sold 5,070 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $5.65, for a total value of $28,645.50. Following the completion of the sale, the chief accounting officer now owns 224,423 shares of the company’s stock, valued at $1,267,989.95. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently modified their holdings of WFT. Wells Fargo & Company MN boosted its position in shares of Weatherford International by 3.9% in the fourth quarter. Wells Fargo & Company MN now owns 13,402,064 shares of the company’s stock worth $112,443,000 after buying an additional 501,932 shares in the last quarter. Creative Planning boosted its position in shares of Weatherford International by 144.0% in the fourth quarter. Creative Planning now owns 224,982 shares of the company’s stock worth $1,888,000 after buying an additional 132,777 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Weatherford International by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 55,536,544 shares of the company’s stock worth $465,952,000 after buying an additional 6,339,202 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Weatherford International during the fourth quarter worth approximately $1,499,000. Finally, Levin Capital Strategies L.P. boosted its position in shares of Weatherford International by 35.5% in the fourth quarter. Levin Capital Strategies L.P. now owns 208,675 shares of the company’s stock worth $1,751,000 after buying an additional 54,675 shares in the last quarter.
Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.
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