Wedge Capital Management L L P NC boosted its stake in Weatherford International PLC (NYSE:WFT) by 71.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,156,413 shares of the oil and gas company’s stock after buying an additional 12,194,205 shares during the period. Weatherford International PLC accounts for 1.1% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 20th largest position. Wedge Capital Management L L P NC’s holdings in Weatherford International PLC were worth $112,835,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC raised its stake in Weatherford International PLC by 0.8% in the first quarter. Greenwood Capital Associates LLC now owns 32,964 shares of the oil and gas company’s stock valued at $220,000 after buying an additional 259 shares during the period. Intl Fcstone Inc. raised its stake in shares of Weatherford International PLC by 0.8% in the first quarter. Intl Fcstone Inc. now owns 55,793 shares of the oil and gas company’s stock worth $278,000 after buying an additional 437 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in shares of Weatherford International PLC by 3.2% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 32,500 shares of the oil and gas company’s stock worth $216,000 after buying an additional 1,000 shares during the last quarter. World Asset Management Inc raised its stake in shares of Weatherford International PLC by 2.0% in the first quarter. World Asset Management Inc now owns 50,937 shares of the oil and gas company’s stock worth $339,000 after buying an additional 1,020 shares during the last quarter. Finally, BKD Wealth Advisors LLC raised its stake in shares of 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 worth $112,000 after buying an additional 1,471 shares during the last quarter.

Shares of Weatherford International PLC (NYSE WFT) opened at 3.95 on Friday. The stock’s market cap is $3.91 billion. The company has a 50-day moving average of $4.11 and a 200 day moving average of $5.20. Weatherford International PLC has a one year low of $3.39 and a one year high of $7.09. Weatherford International PLC also saw some unusual options trading on Wednesday. Stock traders bought 51,442 put options on the company. This is an increase of approximately 1,183% compared to the typical volume of 4,008 put options.

Weatherford International PLC (NYSE:WFT) last released its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) EPS for the quarter, meeting analysts’ consensus estimates of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned ($0.28) earnings per share. Weatherford International PLC’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that Weatherford International PLC will post ($1.03) earnings per share for the current fiscal year.

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A number of brokerages recently weighed in on WFT. BidaskClub lowered shares of Weatherford International PLC from a “sell” rating to a “strong sell” rating in a report on Thursday. Morgan Stanley decreased their price objective on shares of Weatherford International PLC from $6.00 to $5.50 and set an “overweight” rating for the company in a report on Monday. BMO Capital Markets lifted their price objective on shares of Weatherford International PLC from $4.75 to $5.50 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Weatherford International PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Scotiabank set a $6.00 price objective on shares of Weatherford International PLC and gave the company a “hold” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $6.52.

About Weatherford International PLC

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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Institutional Ownership by Quarter for Weatherford International PLC (NYSE:WFT)

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