Larson Financial Group LLC purchased a new stake in shares of Weatherford International Plc (NYSE:WFT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 25,000 shares of the oil and gas company’s stock, valued at approximately $104,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WFT. Investors Research Corp bought a new position in shares of Weatherford International in the 4th quarter worth approximately $105,000. Balentine LLC raised its position in shares of Weatherford International by 68.5% in the 3rd quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock worth $168,000 after acquiring an additional 14,922 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Weatherford International by 244.5% in the 3rd quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock worth $181,000 after acquiring an additional 28,070 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Weatherford International by 8.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock worth $215,000 after acquiring an additional 4,497 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Weatherford International in the 4th quarter worth approximately $216,000.
Several brokerages have recently issued reports on WFT. BMO Capital Markets reissued a “hold” rating on shares of Weatherford International in a research report on Thursday, January 25th. Bank of America raised Weatherford International from an “underperform” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Tuesday, January 16th. Zacks Investment Research raised Weatherford International from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Gabelli reissued a “buy” rating on shares of Weatherford International in a research report on Tuesday, January 2nd. Finally, ValuEngine downgraded Weatherford International from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Weatherford International presently has an average rating of “Hold” and a consensus target price of $5.29.
In other 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 sale, the vice president now directly owns 271,625 shares of the company’s stock, valued at $1,018,593.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Douglas M. Mills sold 17,931 shares of Weatherford International stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $4.34, for a total value of $77,820.54. Following the completion of the transaction, the vice president now owns 238,471 shares of the company’s stock, valued at approximately $1,034,964.14. The disclosure for this sale can be found here. Insiders sold 46,726 shares of company stock worth $193,648 over the last ninety days. Insiders own 1.16% of the company’s stock.
Shares of Weatherford International Plc (NYSE:WFT) traded up $0.02 during mid-day trading on Wednesday, hitting $2.73. The stock had a trading volume of 10,046,168 shares, compared to its average volume of 24,740,000. Weatherford International Plc has a 1 year low of $2.42 and a 1 year high of $6.86. The company has a quick ratio of 1.19, a current ratio of 1.74 and a debt-to-equity ratio of -13.21. The company has a market capitalization of $2,690.00, a PE ratio of -0.96 and a beta of 2.30.
Weatherford International (NYSE:WFT) last issued its earnings results on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.12). Weatherford International had a negative return on equity of 114.20% and a negative net margin of 49.36%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted ($0.32) earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. research analysts forecast that Weatherford International Plc will post -0.62 EPS for the current fiscal year.
About Weatherford International
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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