Weatherford International plc (NYSE:WFT) gapped up prior to trading on Wednesday . The stock had previously closed at $0.60, but opened at $0.65. Weatherford International shares last traded at $0.68, with a volume of 20010982 shares traded.

Several equities research analysts have recently weighed in on WFT shares. Raymond James downgraded Weatherford International from an “outperform” rating to a “market perform” rating in a research report on Friday, November 16th. Bank of America started coverage on Weatherford International in a research report on Wednesday, October 17th. They issued an “underperform” rating for the company. Citigroup downgraded Weatherford International from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $3.50 to $1.00 in a research report on Tuesday, October 30th. Societe Generale set a $2.00 target price on Weatherford International and gave the stock a “sell” rating in a research report on Tuesday, October 30th. Finally, UBS Group cut Weatherford International from a “buy” rating to a “neutral” rating and cut their price target for the stock from $5.00 to $2.00 in a research note on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. Weatherford International presently has a consensus rating of “Hold” and an average target price of $3.50.

The company has a market cap of $768.61 million, a PE ratio of -0.59 and a beta of 2.84.

Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Monday, October 29th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.58%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. Weatherford International’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, analysts forecast that Weatherford International plc will post -0.57 earnings per share for the current year.

In related news, Director Angela A. Minas bought 40,000 shares of the stock in a transaction dated Monday, September 17th. The stock was bought at an average cost of $2.45 per share, with a total value of $98,000.00. Following the completion of the acquisition, the director now owns 102,711 shares of the company’s stock, valued at $251,641.95. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William E. Macaulay sold 767,591 shares of the company’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 transaction, 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. Corporate insiders own 0.44% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Nordea Investment Management AB bought a new position in shares of Weatherford International during the third quarter valued at approximately $5,655,000. Mackenzie Financial Corp grew its holdings in shares of Weatherford International by 82.7% during the third quarter. Mackenzie Financial Corp now owns 17,202,004 shares of the oil and gas company’s stock valued at $46,617,000 after purchasing an additional 7,788,965 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Weatherford International during the third quarter valued at approximately $13,946,000. Scopia Capital Management LP grew its holdings in shares of Weatherford International by 16.3% during the third quarter. Scopia Capital Management LP now owns 31,019,881 shares of the oil and gas company’s stock valued at $84,064,000 after purchasing an additional 4,340,119 shares during the last quarter. Finally, BlueMountain Capital Management LLC grew its holdings in shares of Weatherford International by 258.7% during the third quarter. BlueMountain Capital Management LLC now owns 1,286,232 shares of the oil and gas company’s stock valued at $3,486,000 after purchasing an additional 927,679 shares during the last quarter.

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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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