Investors Buy Shares of 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
A number of equities analysts recently commented on WFT shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $9.00 price target on shares of Weatherford International in a research note on Friday, April 15th. Morgan Stanley raised their target price on shares of Weatherford International from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, April 19th. Howard Weil cut their target price on shares of Weatherford International from $9.00 to $8.00 and set a “sector perform” rating on the stock in a report on Friday, May 6th. Citigroup Inc. reissued a “buy” rating and issued a $7.00 target price (down previously from $9.00) on shares of Weatherford International in a report on Thursday, May 19th. Finally, Jefferies Group reissued a “buy” rating and issued a $9.00 target price (down previously from $10.00) on shares of Weatherford International in a report on Monday, May 9th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Weatherford International currently has a consensus rating of “Buy” and an average target price of $9.54.
The firm’s market capitalization is $4.83 billion. The stock’s 50 day moving average is $5.72 and its 200-day moving average is $6.42.
Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.02. The business earned $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was down 41.3% on a year-over-year basis. On average, equities research analysts forecast that Weatherford International Ltd. will post ($1.03) earnings per share for the current year.
In other Weatherford International news, Director Francis S. Kalman acquired 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average cost of $5.29 per share, for a total transaction of $158,700.00. Following the completion of the acquisition, the director now directly owns 70,056 shares of the company’s stock, valued at approximately $370,596.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Douglas M. Mills sold 5,070 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $5.65, for a total transaction of $28,645.50. Following the completion of the transaction, the chief accounting officer now owns 224,423 shares in the company, valued at $1,267,989.95. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of the company. Levin Capital Strategies L.P. raised its stake in Weatherford International by 35.5% in the fourth quarter. Levin Capital Strategies L.P. now owns 208,675 shares of the company’s stock valued at $1,751,000 after buying an additional 54,675 shares during the period. Creative Planning raised its stake in Weatherford International by 144.0% in the fourth quarter. Creative Planning now owns 224,982 shares of the company’s stock valued at $1,888,000 after buying an additional 132,777 shares during the period. Marshall Wace LLP purchased a new stake in Weatherford International during the fourth quarter valued at $1,499,000. BlackRock Advisors LLC raised its stake in Weatherford International by 7.9% in the fourth quarter. BlackRock Advisors LLC now owns 2,538,417 shares of the company’s stock valued at $21,297,000 after buying an additional 186,698 shares during the period. Finally, Vanguard Group Inc. raised its stake in Weatherford International by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 55,536,544 shares of the company’s stock valued at $465,952,000 after buying an additional 6,339,202 shares during the period.
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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