Shares of Weatherford International plc (NYSE:WFT) gapped down prior to trading on Friday . The stock had previously closed at $2.12, but opened at $2.06. Weatherford International shares last traded at $1.98, with a volume of 42388410 shares traded.

WFT has been the subject of a number of analyst reports. ValuEngine cut Weatherford International from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Tudor Pickering upgraded Weatherford International from a “sell” rating to a “buy” rating in a research report on Monday, August 20th. Wolfe Research assumed coverage on Weatherford International in a research report on Wednesday, October 10th. They set a “peer perform” rating for the company. Zacks Investment Research upgraded Weatherford International from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, Jefferies Financial Group set a $4.00 target price on Weatherford International and gave the stock a “hold” rating in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $4.28.

The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -1.71 and a beta of 2.39.

Weatherford International (NYSE:WFT) last released its quarterly earnings results on Friday, July 27th. The oil and gas company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 46.44%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.28) EPS. As a group, research analysts anticipate that Weatherford International plc will post -0.57 earnings per share for the current year.

In related news, Director Angela A. Minas acquired 40,000 shares of the stock in a transaction dated Monday, September 17th. The stock was acquired at an average cost of $2.45 per share, with a total value of $98,000.00. Following the purchase, the director now directly owns 102,711 shares of the company’s stock, valued at $251,641.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William E. Macaulay sold 767,591 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $2.86, for a total value 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 $1,142,406.98. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of WFT. Northern Trust Corp lifted its stake in shares of Weatherford International by 3.3% in the 1st quarter. Northern Trust Corp now owns 4,817,117 shares of the oil and gas company’s stock valued at $11,032,000 after purchasing an additional 152,302 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Weatherford International by 27.7% during the 1st quarter. Summit Trail Advisors LLC now owns 250,625 shares of the oil and gas company’s stock worth $512,000 after acquiring an additional 54,348 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Weatherford International by 40.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 97,070 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 27,750 shares during the last quarter. Berkshire Asset Management LLC PA lifted its stake in shares of Weatherford International by 37.2% during the 2nd quarter. Berkshire Asset Management LLC PA now owns 55,612 shares of the oil and gas company’s stock worth $183,000 after acquiring an additional 15,071 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Weatherford International by 12.4% during the 2nd quarter. Amalgamated Bank now owns 188,761 shares of the oil and gas company’s stock worth $621,000 after acquiring an additional 20,836 shares during the last quarter.

About Weatherford International (NYSE:WFT)

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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