Weatherford International PLC (NYSE:WFT) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at ($3.69), but opened at $0.00. Weatherford International PLC shares last traded at $0.00, with a volume of 42225853 shares traded.

The oil and gas company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. Weatherford International PLC had a negative return on equity of 63.83% and a negative net margin of 25.36%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned ($0.39) EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis.

Several equities research analysts have recently weighed in on WFT shares. Scotiabank reissued a “buy” rating on shares of Weatherford International PLC in a research report on Tuesday, August 29th. Sanford C. Bernstein lowered Weatherford International PLC from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $7.00 to $5.00 in a research report on Thursday, July 6th. ValuEngine lowered Weatherford International PLC from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Jefferies Group LLC set a $5.00 target price on Weatherford International PLC and gave the stock a “hold” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research lowered Weatherford International PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $6.13.

In related news, VP Douglas M. Mills sold 17,500 shares of Weatherford International PLC stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $4.43, for a total value 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 document filed with the SEC, which can be accessed through this link. 1.16% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Pinnacle Associates Ltd. boosted its stake in shares of Weatherford International PLC by 6.6% in the second quarter. Pinnacle Associates Ltd. now owns 400,870 shares of the oil and gas company’s stock valued at $1,551,000 after buying an additional 24,920 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Weatherford International PLC by 17.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 1,255,585 shares of the oil and gas company’s stock valued at $4,859,000 after buying an additional 182,530 shares in the last quarter. Swiss National Bank boosted its stake in shares of Weatherford International PLC by 3.0% in the second quarter. Swiss National Bank now owns 3,403,646 shares of the oil and gas company’s stock valued at $13,172,000 after buying an additional 98,800 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Weatherford International PLC by 825.9% in the second quarter. Bank of Nova Scotia now owns 331,000 shares of the oil and gas company’s stock valued at $1,281,000 after buying an additional 376,600 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in shares of Weatherford International PLC by 30.3% in the second quarter. Thrivent Financial For Lutherans now owns 13,347,035 shares of the oil and gas company’s stock valued at $51,653,000 after buying an additional 3,103,335 shares in the last quarter.

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Weatherford International PLC Company Profile

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