Emerald Acquisition Ltd. Acquires Shares of 655,152 Weatherford International Ltd. (WFT)
Emerald Acquisition Ltd. acquired a new position in Weatherford International Ltd. (NYSE:WFT) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 655,152 shares of the company’s stock, valued at approximately $3,635,000. Emerald Acquisition Ltd. owned about 0.07% of Weatherford International as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in WFT. CIBC Asset Management Inc raised its stake in shares of Weatherford International by 3.5% in the second quarter. CIBC Asset Management Inc now owns 19,189 shares of the company’s stock worth $106,000 after buying an additional 647 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of Weatherford International by 57.5% in the second quarter. LS Investment Advisors LLC now owns 24,812 shares of the company’s stock worth $138,000 after buying an additional 9,055 shares during the last quarter. Oak Associates Ltd. OH raised its stake in shares of Weatherford International by 103.7% in the first quarter. Oak Associates Ltd. OH now owns 21,590 shares of the company’s stock worth $168,000 after buying an additional 10,990 shares during the last quarter. World Asset Management Inc raised its stake in shares of Weatherford International by 18.4% in the second quarter. World Asset Management Inc now owns 32,631 shares of the company’s stock worth $181,000 after buying an additional 5,077 shares during the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new stake in shares of Weatherford International during the second quarter worth approximately $250,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.
Shares of Weatherford International Ltd. (NYSE:WFT) traded up 2.64% during trading on Thursday, reaching $5.83. The company’s stock had a trading volume of 11,841,747 shares. The firm’s 50-day moving average is $5.69 and its 200 day moving average is $6.27. The company’s market cap is $5.22 billion. Weatherford International Ltd. has a 52-week low of $4.71 and a 52-week high of $11.49.
Weatherford International (NYSE:WFT) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. Weatherford International had a negative return on equity of 13.41% and a negative net margin of 33.73%. The business’s revenue for the quarter was down 41.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) earnings per share. On average, equities research analysts predict that Weatherford International Ltd. will post $2.45 EPS for the current fiscal year.
A number of equities research analysts have commented on the company. Nomura restated a “buy” rating and set a $10.00 price objective on shares of Weatherford International in a research report on Friday, June 3rd. Bank of America Corp. assumed coverage on Weatherford International in a research note on Monday, June 13th. They set an “underperform” rating for the company. Citigroup Inc. cut their price target on Weatherford International from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, July 29th. Seaport Global Securities reaffirmed a “buy” rating on shares of Weatherford International in a research note on Friday, August 19th. Finally, Zacks Investment Research raised Weatherford International from a “sell” rating to a “hold” rating in a research note on Wednesday, June 8th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $8.95.
About Weatherford International
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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