Weatherford International Ltd. (WFT) Trading Up 12.8%
Weatherford International Ltd. (NYSE:WFT)’s share price was up 12.8% during trading on Tuesday . The stock traded as high as $6.11 and last traded at $6.06, with a volume of 17,871,958 shares trading hands. The stock had previously closed at $5.37.
Several equities analysts have commented on WFT shares. KLR Group reiterated an “accumulate” rating and set a $7.25 price target (down previously from $9.25) on shares of Weatherford International in a report on Monday, May 9th. Nomura Holdings Inc. started coverage on Weatherford International in a report on Friday, April 8th. They set a “buy” rating and a $10.00 price target on the stock. BMO Capital Markets reiterated a “buy” rating on shares of Weatherford International in a report on Wednesday, April 27th. Vetr downgraded Weatherford International from a “strong-buy” rating to a “buy” rating and set a $9.20 price target on the stock. in a report on Monday, April 25th. Finally, Seaport Global Securities upgraded Weatherford International from a “neutral” rating to a “buy” rating and lowered their price target for the company from $7.50 to $7.00 in a report on Friday, May 6th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $9.83.
The stock has a 50-day moving average of $5.93 and a 200-day moving average of $6.62. The company’s market capitalization is $5.26 billion.
Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $0.03. The business earned $1.59 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the business earned ($0.04) earnings per share. The business’s revenue for the quarter was down 43.3% on a year-over-year basis. Equities research analysts predict that Weatherford International Ltd. will post ($1.06) earnings per share for the current fiscal year.
In other Weatherford International news, CAO Douglas M. Mills sold 5,070 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $5.65, for a total value of $28,645.50. Following the completion of the sale, the chief accounting officer now owns 224,423 shares of the company’s stock, valued at $1,267,989.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Francis S. Kalman acquired 30,000 shares of Weatherford International stock in a transaction on Monday, May 9th. The stock was purchased at an average cost of $5.29 per share, with a total value of $158,700.00. Following the purchase, the director now directly owns 70,056 shares of the company’s stock, valued at approximately $370,596.24. The disclosure for this purchase can be found here.
A number of large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in shares of Weatherford International by 3.9% in the fourth quarter. Wells Fargo & Company MN now owns 13,402,064 shares of the company’s stock worth $112,443,000 after buying an additional 501,932 shares during the period. Rhumbline Advisers raised its position in Weatherford International by 8.9% in the fourth quarter. Rhumbline Advisers now owns 503,966 shares of the company’s stock worth $4,228,000 after buying an additional 41,280 shares in the last quarter. Oceanic Investment Management LTD bought a new position in Weatherford International during the fourth quarter worth $8,753,000. Teacher Retirement System of Texas raised its position in Weatherford International by 2,462.6% in the fourth quarter. Teacher Retirement System of Texas now owns 1,061,704 shares of the company’s stock worth $8,908,000 after buying an additional 1,020,274 shares in the last quarter. Finally, Sei Investments Co. raised its position in Weatherford International by 38,313.3% in the fourth quarter. Sei Investments Co. now owns 283,490 shares of the company’s stock worth $2,378,000 after buying an additional 282,752 shares in the last quarter.
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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