Weatherford International Plc (NYSE:WFT) – Seaport Global Securities decreased their Q2 2017 earnings estimates for shares of Weatherford International Plc in a report issued on Tuesday. Seaport Global Securities analyst M. Brown now expects that the oil and gas company will post earnings per share of ($0.28) for the quarter, down from their previous estimate of ($0.27). Seaport Global Securities also issued estimates for Weatherford International Plc’s Q4 2017 earnings at ($0.16) EPS, FY2017 earnings at ($0.98) EPS, Q1 2018 earnings at ($0.12) EPS, Q2 2018 earnings at ($0.07) EPS, Q3 2018 earnings at ($0.02) EPS and FY2018 earnings at ($0.15) EPS.
Weatherford International Plc (NYSE:WFT) last announced its earnings results on Friday, April 28th. The oil and gas company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.01. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.36 billion. Weatherford International Plc had a negative return on equity of 30.56% and a negative net margin of 59.00%. Weatherford International Plc’s revenue was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.29) earnings per share.
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A number of other equities analysts also recently commented on the stock. Stephens reissued an “underweight” rating and issued a $3.75 price objective on shares of Weatherford International Plc in a research note on Monday, March 27th. Deutsche Bank AG set a $8.00 price objective on shares of Weatherford International Plc and gave the stock a “buy” rating in a research note on Monday, March 27th. Tudor Pickering started coverage on shares of Weatherford International Plc in a research note on Thursday, March 23rd. They issued a “buy” rating for the company. Goldman Sachs Group Inc downgraded shares of Weatherford International Plc from a “buy” rating to a “neutral” rating and set a $7.25 price objective for the company. in a research note on Tuesday, April 18th. Finally, Vetr raised Weatherford International Plc from a “buy” rating to a “strong-buy” rating and set a $7.02 price target on the stock in a research report on Tuesday, March 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Weatherford International Plc currently has a consensus rating of “Buy” and an average price target of $7.30.
Weatherford International Plc (NYSE:WFT) opened at 5.09 on Thursday. The firm has a 50-day moving average price of $5.54 and a 200-day moving average price of $5.56. Weatherford International Plc has a 52 week low of $3.73 and a 52 week high of $7.09. The company’s market capitalization is $5.02 billion. Weatherford International Plc also saw unusually large options trading activity on Tuesday. Stock investors bought 1,216 call options on the company. This is an increase of approximately 122% compared to the average daily volume of 547 call options.
Several large investors have recently bought and sold shares of WFT. Dodge & Cox purchased a new stake in Weatherford International Plc during the fourth quarter valued at about $416,023,000. Van ECK Associates Corp raised its stake in Weatherford International Plc by 269.8% in the fourth quarter. Van ECK Associates Corp now owns 24,846,508 shares of the oil and gas company’s stock valued at $123,984,000 after buying an additional 18,128,346 shares during the last quarter. State Street Corp raised its stake in Weatherford International Plc by 33.6% in the fourth quarter. State Street Corp now owns 44,334,964 shares of the oil and gas company’s stock valued at $221,220,000 after buying an additional 11,154,362 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in Weatherford International Plc during the first quarter valued at about $46,680,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in Weatherford International Plc during the first quarter valued at about $45,594,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Douglas M. Mills sold 17,500 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $5.19, for a total transaction of $90,825.00. Following the sale, the vice president now directly owns 296,625 shares of the company’s stock, valued at approximately $1,539,483.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Douglas M. Mills sold 14,395 shares of the stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $5.58, for a total transaction of $80,324.10. Following the sale, the vice president now directly owns 318,520 shares in the company, valued at $1,777,341.60. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
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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