Voya Investment Management LLC cut its position in Weatherford International plc (NYSE:WFT) by 10.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 209,708 shares of the oil and gas company’s stock after selling 23,771 shares during the period. Voya Investment Management LLC’s holdings in Weatherford International were worth $690,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WFT. First Trust Advisors LP bought a new position in shares of Weatherford International in the second quarter valued at $119,000. GSA Capital Partners LLP bought a new position in Weatherford International during the second quarter worth $158,000. Berkshire Asset Management LLC PA boosted its position in Weatherford International by 37.2% during the second quarter. Berkshire Asset Management LLC PA now owns 55,612 shares of the oil and gas company’s stock worth $183,000 after purchasing an additional 15,071 shares during the period. Wedbush Securities Inc. boosted its position in Weatherford International by 51.3% during the second quarter. Wedbush Securities Inc. now owns 59,786 shares of the oil and gas company’s stock worth $197,000 after purchasing an additional 20,272 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in Weatherford International by 40.0% during the second quarter. State of Alaska Department of Revenue now owns 97,070 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 27,750 shares during the period.

A number of research firms have commented on WFT. Societe Generale cut shares of Weatherford International from a “buy” rating to a “sell” rating and set a $2.00 price objective for the company. in a research report on Friday. Piper Jaffray Companies set a $2.00 price objective on shares of Weatherford International and gave the stock a “hold” rating in a research report on Sunday, July 29th. ValuEngine raised shares of Weatherford International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Wolfe Research began coverage on shares of Weatherford International in a research report on Wednesday. They set a “peer perform” rating for the company. Finally, Tudor Pickering raised shares of Weatherford International from a “sell” rating to a “buy” rating in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Weatherford International presently has an average rating of “Buy” and a consensus price target of $4.28.

In other Weatherford International news, Director Angela A. Minas bought 40,000 shares of Weatherford International stock in a transaction dated Monday, September 17th. The stock was bought at an average price of $2.45 per share, with a total value of $98,000.00. Following the completion of the transaction, the director now owns 102,711 shares in the company, valued at approximately $251,641.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William E. Macaulay sold 767,591 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $2.86, for a total transaction of $2,195,310.26. Following the completion of the sale, the director now directly owns 399,443 shares of the company’s stock, valued at approximately $1,142,406.98. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Shares of Weatherford International stock opened at $2.54 on Friday. The stock has a market capitalization of $2.70 billion, a PE ratio of -2.19 and a beta of 2.38. Weatherford International plc has a 52-week low of $2.07 and a 52-week high of $4.41. The company has a debt-to-equity ratio of -5.82, a current ratio of 1.68 and a quick ratio of 1.16.

Weatherford International (NYSE:WFT) last announced its earnings results on Friday, July 27th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.02. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Weatherford International had a negative net margin of 46.44% and a negative return on equity of 283.53%. Weatherford International’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.28) earnings per share. As a group, analysts anticipate that Weatherford International plc will post -0.56 earnings per share for the current year.

About Weatherford International

Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.

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Institutional Ownership by Quarter for Weatherford International (NYSE:WFT)

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