Weatherford International Ltd. (WFT) Trading Up 4.6%
Weatherford International Ltd. (NYSE:WFT) shares were up 4.6% during mid-day trading on Tuesday . The stock traded as high as $6.02 and last traded at $5.95, with a volume of 16,491,716 shares. The stock had previously closed at $5.69.
WFT has been the topic of several analyst reports. Vetr lowered Weatherford International from a “strong-buy” rating to a “buy” rating and set a $6.95 target price on the stock. in a report on Monday, June 27th. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Weatherford International in a report on Thursday, April 21st. Citigroup Inc. raised their target price 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 initiated coverage on Weatherford International in a report on Friday, June 24th. They set an “in-line” rating and a $7.00 target price on the stock. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $8.00 target price (down from $9.00) on shares of Weatherford International in a report on Saturday, May 7th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $9.65.
The firm’s 50 day moving average price is $5.95 and its 200 day moving average price is $6.48. The stock’s market capitalization is $5.33 billion.
Weatherford International (NYSE:WFT) last announced its earnings results on Wednesday, May 4th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.03. The business earned $1.59 billion during the quarter, compared to analysts’ expectations of $1.66 billion. The business’s revenue was down 43.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) EPS. Equities analysts predict that Weatherford International Ltd. will post ($1.06) EPS for the current fiscal year.
In related news, Director Francis S. Kalman bought 30,000 shares of the stock in a transaction on Monday, May 9th. The shares were purchased at an average price of $5.29 per share, for a total transaction of $158,700.00. Following the acquisition, the director now owns 70,056 shares in the company, valued at $370,596.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Douglas M. Mills sold 5,070 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $5.65, for a total value of $28,645.50. Following the sale, the chief accounting officer now owns 224,423 shares in the company, valued at approximately $1,267,989.95. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. BlackRock Advisors LLC boosted its stake in shares of Weatherford International by 7.9% in the fourth quarter. BlackRock Advisors LLC now owns 2,538,417 shares of the company’s stock worth $21,297,000 after buying an additional 186,698 shares during the period. Marshall Wace LLP bought a new stake in shares of Weatherford International during the fourth quarter worth approximately $1,499,000. Levin Capital Strategies L.P. boosted its stake in shares of Weatherford International by 35.5% in the fourth quarter. Levin Capital Strategies L.P. now owns 208,675 shares of the company’s stock worth $1,751,000 after buying an additional 54,675 shares during the period. 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. Finally, Vanguard Group Inc. boosted its stake in shares of Weatherford International by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 55,536,544 shares of the company’s stock worth $465,952,000 after buying an additional 6,339,202 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.