Daiwa Securities Group Inc. Has $118,000 Stake in Weatherford International Ltd. (WFT)
Daiwa Securities Group Inc. continued to hold its position in shares of Weatherford International Ltd. (NYSE:WFT) during the second quarter, Holdings Channel reports. The institutional investor owned 21,200 shares of the company’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Weatherford International were worth $118,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Orbis Allan Gray Ltd acquired a new position in Weatherford International during the first quarter valued at $130,340,000. State Street Corp increased its position in 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 last quarter. Dodge & Cox increased its position in 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 last quarter. BlackRock Institutional Trust Company N.A. increased its position in Weatherford International by 12.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 21,262,486 shares of the company’s stock valued at $165,422,000 after buying an additional 2,378,901 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Weatherford International by 887.8% in the first quarter. Renaissance Technologies LLC now owns 2,431,230 shares of the company’s stock valued at $18,915,000 after buying an additional 2,185,100 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.
Weatherford International Ltd. (NYSE:WFT) traded down 1.01% during midday trading on Friday, reaching $5.89. The company’s stock had a trading volume of 14,583,999 shares. The firm’s market capitalization is $5.28 billion. Weatherford International Ltd. has a 1-year low of $4.71 and a 1-year high of $11.49. The stock’s 50-day moving average price is $5.70 and its 200 day moving average price is $6.16.
Weatherford International (NYSE:WFT) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.44 billion. Weatherford International had a negative return on equity of 13.41% and a negative net margin of 33.73%. The company’s quarterly revenue was down 41.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) EPS. Equities analysts anticipate that Weatherford International Ltd. will post $2.45 EPS for the current fiscal year.
WFT has been the subject of several recent analyst reports. Vetr downgraded Weatherford International from a “buy” rating to a “hold” rating and set a $6.95 price target for the company. in a research note on Monday, June 13th. Bank of America Corp. assumed coverage on Weatherford International in a report on Monday, June 13th. They set an “underperform” rating on the stock. Citigroup Inc. upped their price objective on Weatherford International from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Imperial Capital assumed coverage on Weatherford International in a report on Friday, June 24th. They set an “in-line” rating and a $7.00 price objective on the stock. Finally, Jefferies Group reaffirmed a “buy” rating and set a $8.00 price objective on shares of Weatherford International in a report on Sunday, July 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $8.83.
In related news, VP Douglas M. Mills sold 12,500 shares of the business’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $5.97, for a total value of $74,625.00. Following the sale, the vice president now owns 223,933 shares in the company, valued at approximately $1,336,880.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.
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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