Weatherford International Ltd. (NYSE:WFT) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 106,677,421 shares, an increase of 32.7% from the October 31st total of 80,388,281 shares. Based on an average daily volume of 49,031,940 shares, the days-to-cover ratio is presently 2.2 days. Currently, 12.1% of the shares of the company are sold short.

In other news, VP Douglas M. Mills sold 12,500 shares of Weatherford International 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 completion of the transaction, the vice president now directly owns 223,933 shares in the company, valued at $1,336,880.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ngam Advisors L.P. increased its stake in Weatherford International by 2.8% in the third quarter. Ngam Advisors L.P. now owns 1,644,180 shares of the company’s stock worth $9,240,000 after buying an additional 44,605 shares during the last quarter. Vanguard Group Inc. increased its stake in Weatherford International by 5.4% in the second quarter. Vanguard Group Inc. now owns 68,298,516 shares of the company’s stock worth $379,057,000 after buying an additional 3,504,828 shares during the last quarter. Monashee Investment Management LLC acquired a new stake in Weatherford International during the second quarter worth approximately $444,000. Oregon Public Employees Retirement Fund increased its stake in Weatherford International by 51.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 170,534 shares of the company’s stock worth $946,000 after buying an additional 57,646 shares during the last quarter. Finally, TD Asset Management Inc. increased its stake in Weatherford International by 30.4% in the second quarter. TD Asset Management Inc. now owns 58,762 shares of the company’s stock worth $326,000 after buying an additional 13,690 shares during the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Weatherford International (NYSE:WFT) opened at 4.32 on Wednesday. The company has a 50 day moving average price of $5.21 and a 200 day moving average price of $5.61. Weatherford International has a 1-year low of $3.73 and a 1-year high of $11.14. The stock’s market cap is $3.88 billion.

Weatherford International (NYSE:WFT) last issued its quarterly earnings results on Tuesday, October 25th. The company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.14. The company earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Weatherford International had a negative net margin of 63.74% and a negative return on equity of 24.19%. The company’s quarterly revenue was down 39.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, equities analysts anticipate that Weatherford International will post ($1.28) EPS for the current year.

Several equities analysts recently commented on WFT shares. Citigroup Inc. boosted their target price on Weatherford International from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, October 11th. Jefferies Group set a $8.00 target price on Weatherford International and gave the stock a “buy” rating in a research report on Tuesday, October 18th. Seaport Global Securities restated a “buy” rating on shares of Weatherford International in a research report on Friday, August 19th. Nomura set a $10.00 target price on Weatherford International and gave the stock a “buy” rating in a research report on Tuesday, August 16th. Finally, Scotiabank restated a “sector perform” rating and set a $7.00 target price (down from $8.00) on shares of Weatherford International in a research report on Thursday, October 27th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $8.27.

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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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