Weatherford International Ltd. (WFT) Shares Up 3.5%
Shares of Weatherford International Ltd. (NYSE:WFT) shot up 3.5% during mid-day trading on Monday . The stock traded as high as $5.72 and last traded at $5.58, with a volume of 8,824,442 shares trading hands. The stock had previously closed at $5.39.
Several brokerages have issued reports on WFT. Howard Weil lowered their target price on Weatherford International from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Friday, May 6th. Nomura restated a “buy” rating and issued a $10.00 target price on shares of Weatherford International in a research note on Friday, June 3rd. Capital One Financial Corp. lowered Weatherford International from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 5th. Bank of America Corp. started coverage on Weatherford International in a research note on Monday, June 13th. They set an “underperform” rating on the stock. Finally, Citigroup Inc. decreased their price objective 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. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Weatherford International has a consensus rating of “Buy” and an average target price of $9.54.
The firm’s 50-day moving average price is $5.72 and its 200-day moving average price is $6.42. The company’s market capitalization is $5.09 billion.
Weatherford International (NYSE:WFT) last announced its earnings results 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 business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.44 billion. The firm’s quarterly revenue was down 41.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) EPS. On average, equities research analysts forecast that Weatherford International Ltd. will post ($1.03) earnings per share for the current year.
Several hedge funds have recently made changes to their positions in WFT. Marshall Wace LLP purchased a new stake in shares of Weatherford International during the fourth quarter worth about $1,499,000. Levin Capital Strategies L.P. raised 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 last quarter. BlackRock Advisors LLC raised 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 last quarter. Finally, Vanguard Group Inc. raised 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 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.