Weatherford International Ltd. (NYSE:WFT) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 59,427,464 shares, a decrease of 4.5% from the August 15th total of 62,255,590 shares. Based on an average trading volume of 11,025,279 shares, the short-interest ratio is currently 5.4 days. Approximately 6.7% of the company’s stock are short sold.

Institutional investors have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd purchased a new position in Weatherford International during the first quarter valued at $130,340,000. Geode Capital Management LLC boosted its position in Weatherford International by 18.8% in the first quarter. Geode Capital Management LLC now owns 5,390,989 shares of the company’s stock valued at $41,919,000 after buying an additional 853,411 shares during the last quarter. Reliance Trust Co. of Delaware boosted its position in Weatherford International by 0.5% in the fourth quarter. Reliance Trust Co. of Delaware now owns 123,437 shares of the company’s stock valued at $1,035,000 after buying an additional 625 shares during the last quarter. Pacad Investment Ltd. boosted its position in Weatherford International by 221.9% in the first quarter. Pacad Investment Ltd. now owns 428,705 shares of the company’s stock valued at $3,335,000 after buying an additional 295,510 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Weatherford International by 116.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 376,090 shares of the company’s stock valued at $2,926,000 after buying an additional 202,300 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Weatherford International (NYSE:WFT) opened at 5.68 on Thursday. The company’s market cap is $5.09 billion. Weatherford International has a 1-year low of $4.71 and a 1-year high of $11.49. The company’s 50-day moving average price is $5.69 and its 200 day moving average price is $6.27.

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 business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Weatherford International had a negative return on equity of 13.41% and a negative net margin of 33.73%. The firm’s quarterly revenue was down 41.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS. On average, analysts predict that Weatherford International will post $2.45 earnings per share for the current fiscal year.

Several research analysts have issued reports on the company. Nomura reiterated a “buy” rating and issued a $10.00 price target on shares of Weatherford International in a report on Friday, June 3rd. Bank of America Corp. assumed coverage on Weatherford International in a report on Monday, June 13th. They issued an “underperform” rating on the stock. Citigroup Inc. dropped their target price on Weatherford International from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, July 29th. Seaport Global Securities restated a “buy” rating on shares of Weatherford International in a report on Friday, August 19th. Finally, Zacks Investment Research upgraded Weatherford International from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus 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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