Honeywell International Inc. lifted its stake in Weatherford International Plc (NYSE:WFT) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,145,500 shares of the oil and gas company’s stock after purchasing an additional 202,100 shares during the quarter. Honeywell International Inc. owned about 0.22% of Weatherford International worth $8,947,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Quantitative Systematic Strategies LLC acquired a new stake in shares of Weatherford International in the third quarter valued at approximately $123,000. Balentine LLC increased its holdings in shares of Weatherford International by 68.5% in the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock valued at $168,000 after purchasing an additional 14,922 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Weatherford International by 244.5% in the third quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock valued at $181,000 after purchasing an additional 28,070 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Weatherford International by 8.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock valued at $215,000 after purchasing an additional 4,497 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Weatherford International in the fourth quarter valued at approximately $216,000.
In other news, VP Douglas M. Mills sold 6,072 shares of Weatherford International stock in a transaction on Monday, January 29th. The stock was sold at an average price of $4.24, for a total value of $25,745.28. Following the completion of the sale, the vice president now directly owns 232,399 shares of the company’s stock, valued at $985,371.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Douglas M. Mills sold 17,931 shares of Weatherford International stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $4.34, for a total value of $77,820.54. Following the completion of the sale, the vice president now directly owns 238,471 shares of the company’s stock, valued at $1,034,964.14. The disclosure for this sale can be found here. Insiders sold 46,726 shares of company stock valued at $193,648 over the last ninety days. Insiders own 1.16% of the company’s stock.
Weatherford International (NYSE:WFT) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.12). Weatherford International had a negative net margin of 49.36% and a negative return on equity of 114.20%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm posted ($0.32) earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. equities research analysts predict that Weatherford International Plc will post -0.61 EPS for the current fiscal year.
Several research firms recently commented on WFT. BMO Capital Markets reaffirmed a “hold” rating on shares of Weatherford International in a report on Thursday, January 25th. Credit Suisse Group cut their price target on Weatherford International from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Cowen reaffirmed a “buy” rating and issued a $6.00 price target on shares of Weatherford International in a report on Monday, February 5th. Tudor Pickering cut Weatherford International from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Finally, Morgan Stanley cut their price target on Weatherford International from $5.50 to $5.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Six research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.48.
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Weatherford International 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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