Weatherford International Plc (WFT) Short Interest Update
Weatherford International Plc (NYSE:WFT) saw a large increase in short interest in December. As of December 29th, there was short interest totalling 149,090,984 shares, an increase of 0.9% from the December 15th total of 147,693,390 shares. Based on an average trading volume of 17,183,242 shares, the days-to-cover ratio is presently 8.7 days. Approximately 15.2% of the company’s shares are sold short.
Shares of Weatherford International (NYSE:WFT) opened at $3.96 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.04 and a debt-to-equity ratio of 5.44. Weatherford International has a 52 week low of $3.08 and a 52 week high of $7.09. The firm has a market capitalization of $4,040.00, a P/E ratio of -2.77 and a beta of 2.32.
Weatherford International (NYSE:WFT) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.02. Weatherford International had a negative return on equity of 67.44% and a negative net margin of 25.36%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business earned ($0.39) earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. equities research analysts expect that Weatherford International will post -1.02 EPS for the current year.
A number of equities analysts have recently commented on WFT shares. Societe Generale raised Weatherford International from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Citigroup boosted their price objective on Weatherford International from $5.30 to $5.60 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Seaport Global Securities raised Weatherford International from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $4.00 to $5.00 in a research report on Wednesday, November 1st. BMO Capital Markets reissued a “buy” rating and set a $5.50 price objective on shares of Weatherford International in a research report on Friday, October 13th. Finally, Deutsche Bank started coverage on Weatherford International in a research report on Tuesday, October 10th. They set a “buy” rating and a $6.00 price objective for the company. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Weatherford International currently has a consensus rating of “Buy” and an average price target of $5.77.
In other Weatherford International news, VP Douglas M. Mills sold 7,500 shares of Weatherford International stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total value of $28,125.00. Following the completion of the transaction, the vice president now directly owns 271,625 shares of the company’s stock, valued at approximately $1,018,593.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.16% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of WFT. Schwab Charles Investment Management Inc. lifted its stake in Weatherford International by 0.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,800,273 shares of the oil and gas company’s stock valued at $14,708,000 after buying an additional 10,661 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Weatherford International by 3.1% in the second quarter. Neuberger Berman Group LLC now owns 332,703 shares of the oil and gas company’s stock valued at $1,288,000 after buying an additional 9,941 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Weatherford International in the second quarter valued at approximately $320,000. Private Advisor Group LLC lifted its stake in Weatherford International by 63.2% in the second quarter. Private Advisor Group LLC now owns 39,207 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 15,178 shares during the last quarter. Finally, CIBC World Markets Inc. purchased a new stake in Weatherford International in the second quarter valued at approximately $161,000.
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Weatherford International Company Profile
Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.
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