State of Wisconsin Investment Board Increases Stake in Weatherford International PLC (WFT)

State of Wisconsin Investment Board increased its stake in Weatherford International PLC (NYSE:WFT) by 18.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,319,354 shares of the oil and gas company’s stock after purchasing an additional 205,940 shares during the period. State of Wisconsin Investment Board owned approximately 0.13% of Weatherford International PLC worth $5,106,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Weatherford International PLC by 13.5% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,982 shares of the oil and gas company’s stock worth $106,000 after purchasing an additional 1,899 shares during the period. Laurion Capital Management LP acquired a new position in Weatherford International PLC in the 1st quarter worth $109,000. Two Sigma Securities LLC boosted its stake in Weatherford International PLC by 14.5% in the 1st quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock worth $117,000 after purchasing an additional 2,238 shares during the period. Verity Asset Management Inc. acquired a new position in shares of Weatherford International PLC during the 1st quarter worth about $129,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of Weatherford International PLC during the 1st quarter worth about $129,000.

Weatherford International PLC (WFT) remained flat at $4.42 during mid-day trading on Friday. The company had a trading volume of 18,093,572 shares. The firm’s 50 day moving average is $4.09 and its 200 day moving average is $4.90. Weatherford International PLC has a 12 month low of $3.39 and a 12 month high of $7.09. The firm’s market cap is $4.37 billion.

Weatherford International PLC (NYSE:WFT) last posted its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.28). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.46 billion. Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. Weatherford International PLC’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.28) EPS. Equities analysts forecast that Weatherford International PLC will post ($1.03) earnings per share for the current year.

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WFT has been the subject of a number of recent research reports. Morgan Stanley restated an “overweight” rating and set a $6.00 price objective (down from $12.00) on shares of Weatherford International PLC in a research note on Wednesday, June 21st. Scotiabank restated a “buy” rating on shares of Weatherford International PLC in a research note on Tuesday, August 29th. Sanford C. Bernstein downgraded shares of Weatherford International PLC from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $7.00 to $5.00 in a research note on Thursday, July 6th. Deutsche Bank AG restated a “buy” rating and set a $7.00 price objective (down from $8.00) on shares of Weatherford International PLC in a research note on Tuesday, May 30th. Finally, UBS AG reaffirmed a “buy” rating and issued a $6.00 target price (down from $8.00) on shares of Weatherford International PLC in a report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $6.39.

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.

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

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