Weatherford International PLC Target of Unusually High Options Trading (WFT)
Weatherford International PLC (NYSE:WFT) was the target of unusually large options trading on Thursday. Investors purchased 7,712 call options on the stock. This represents an increase of approximately 830% compared to the average daily volume of 829 call options.
In related news, VP Douglas M. Mills sold 17,500 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $5.19, for a total transaction of $90,825.00. Following the completion of the sale, the vice president now owns 296,625 shares in the company, valued at $1,539,483.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in WFT. Baldwin Brothers Inc. MA bought a new position in Weatherford International PLC during the first quarter valued at $100,000. Sumitomo Mitsui Asset Management Company LTD increased its position in Weatherford International PLC by 13.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,982 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 1,899 shares during the period. Laurion Capital Management LP bought a new position in Weatherford International PLC during the first quarter valued at $109,000. BKD Wealth Advisors LLC increased its position in Weatherford International PLC by 9.5% in the first quarter. BKD Wealth Advisors LLC now owns 16,884 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 1,471 shares during the period. Finally, Two Sigma Securities LLC increased its position in Weatherford International PLC by 14.5% in the first quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 2,238 shares during the period.
Shares of Weatherford International PLC (WFT) opened at 3.86 on Thursday. Weatherford International PLC has a one year low of $3.39 and a one year high of $7.09. The stock’s market cap is $3.80 billion. The company’s 50-day moving average price is $4.56 and its 200-day moving average price is $5.45.
Weatherford International PLC (NYSE:WFT) last issued its quarterly earnings data on Friday, April 28th. The oil and gas company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.01. Weatherford International PLC had a negative return on equity of 47.36% and a negative net margin of 60.22%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned ($0.29) EPS. The business’s revenue was down 12.6% on a year-over-year basis. Equities research analysts anticipate that Weatherford International PLC will post ($0.99) earnings per share for the current year.
Several brokerages recently issued reports on WFT. Royal Bank Of Canada set a $8.00 price target on Weatherford International PLC and gave the stock a “buy” rating in a report on Saturday, June 24th. Scotiabank set a $6.00 price objective on Weatherford International PLC and gave the stock a “hold” rating in a research report on Friday, July 7th. UBS AG reissued a “buy” rating and issued a $6.00 price objective (down previously from $8.00) on shares of Weatherford International PLC in a research report on Thursday, July 6th. Seaport Global Securities cut Weatherford International PLC from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $4.00 in a research report on Wednesday, June 21st. Finally, Sanford C. Bernstein cut Weatherford International PLC from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $7.00 to $5.00 in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $6.74.
Weatherford International PLC Company Profile
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.
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