Boothbay Fund Management LLC Boosts Holdings in Weatherford International PLC (WFT)
Boothbay Fund Management LLC raised its holdings in shares of Weatherford International PLC (NYSE:WFT) by 450.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 54,998 shares of the oil and gas company’s stock after purchasing an additional 44,998 shares during the period. Boothbay Fund Management LLC’s holdings in Weatherford International were worth $252,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of WFT. Pinnacle Associates Ltd. grew its position in shares of Weatherford International by 6.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 400,870 shares of the oil and gas company’s stock worth $1,551,000 after buying an additional 24,920 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Weatherford International by 825.9% in the 2nd quarter. Bank of Nova Scotia now owns 331,000 shares of the oil and gas company’s stock worth $1,281,000 after buying an additional 376,600 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Weatherford International in the 3rd quarter worth approximately $392,000. Timber Hill LLC acquired a new stake in Weatherford International in the 3rd quarter worth approximately $280,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Weatherford International by 35.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 412,589 shares of the oil and gas company’s stock worth $1,890,000 after purchasing an additional 109,098 shares in the last quarter.
Weatherford International PLC (NYSE WFT) traded up $0.06 during midday trading on Wednesday, reaching $3.42. 12,761,400 shares of the company’s stock were exchanged, compared to its average volume of 21,809,004. Weatherford International PLC has a 52 week low of $3.08 and a 52 week high of $7.09. The company has a debt-to-equity ratio of 5.44, a quick ratio of 1.33 and a current ratio of 2.04.
Weatherford International (NYSE:WFT) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Weatherford International had a negative net margin of 25.36% and a negative return on equity of 67.44%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.39) earnings per share. analysts predict that Weatherford International PLC will post -1.02 EPS for the current fiscal year.
In related news, VP Douglas M. Mills sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $4.43, for a total transaction of $77,525.00. Following the sale, the vice president now directly owns 279,125 shares in the company, valued at $1,236,523.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.16% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on WFT. Royal Bank of Canada set a $6.00 target price on shares of Weatherford International and gave the stock a “buy” rating in a research note on Sunday, November 12th. Citigroup cut shares of Weatherford International from a “buy” rating to a “neutral” rating and set a $4.20 target price for the company. in a research note on Monday, November 6th. Sanford C. Bernstein upgraded shares of Weatherford International from a “market perform” rating to an “outperform” rating in a research note on Friday, November 3rd. Societe Generale upgraded shares of Weatherford International from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Finally, Morgan Stanley decreased their price objective on shares of Weatherford International from $5.50 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $6.07.
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About Weatherford International
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