Weatherford International Ltd. (WFT) VP Douglas M. Mills Sells 12,500 Shares
Weatherford International Ltd. (NYSE:WFT) VP Douglas M. Mills sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $5.97, for a total value of $74,625.00. Following the completion of the sale, the vice president now directly owns 223,933 shares in the company, valued at approximately $1,336,880.01. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Weatherford International Ltd. (NYSE:WFT) opened at 5.89 on Friday. The firm’s market cap is $5.28 billion. The company’s 50 day moving average is $5.70 and its 200-day moving average is $6.16. Weatherford International Ltd. has a 1-year low of $4.71 and a 1-year high of $11.49.
Weatherford International (NYSE:WFT) last issued its earnings results on Wednesday, July 27th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. Weatherford International had a negative net margin of 33.73% and a negative return on equity of 13.41%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business earned ($0.10) EPS. The firm’s revenue was down 41.3% on a year-over-year basis. On average, analysts predict that Weatherford International Ltd. will post $2.45 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Orbis Allan Gray Ltd acquired a new stake in shares of Weatherford International during the first quarter valued at $130,340,000. State Street Corp raised its stake in shares of Weatherford International by 36.9% in the first quarter. State Street Corp now owns 26,567,174 shares of the company’s stock valued at $206,692,000 after buying an additional 7,166,608 shares during the period. Dodge & Cox raised its stake in shares of Weatherford International by 9.0% in the first quarter. Dodge & Cox now owns 81,021,617 shares of the company’s stock valued at $630,348,000 after buying an additional 6,695,940 shares during the period. Vanguard Group Inc. raised its stake in shares of Weatherford International by 5.4% in the second quarter. Vanguard Group Inc. now owns 68,298,516 shares of the company’s stock valued at $379,057,000 after buying an additional 3,504,828 shares during the period. Finally, Wedge Capital Management L L P NC raised its stake in shares of Weatherford International by 27.0% in the second quarter. Wedge Capital Management L L P NC now owns 14,783,032 shares of the company’s stock valued at $82,046,000 after buying an additional 3,142,666 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Jefferies Group reaffirmed a “buy” rating and issued a $8.00 target price on shares of Weatherford International in a research note on Sunday, July 10th. Citigroup Inc. reduced their price target on Weatherford International from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. Bank of America Corp. began coverage on Weatherford International in a research note on Monday, June 13th. They set an “underperform” rating on the stock. Seaport Global Securities reissued a “buy” rating on shares of Weatherford International in a research note on Friday, August 19th. Finally, Nomura set a $10.00 price target on Weatherford International and gave the stock a “buy” rating in a research note on Tuesday, August 16th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Weatherford International currently has an average rating of “Buy” and a consensus price target of $8.83.
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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