Insider Selling: Weatherford International Ltd. (WFT) VP Sells 12,500 Shares of Stock
Weatherford International Ltd. (NYSE:WFT) VP Douglas M. Mills sold 12,500 shares of the stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $5.97, for a total value of $74,625.00. Following the sale, the vice president now directly owns 223,933 shares of the company’s stock, valued at $1,336,880.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Weatherford International Ltd. (NYSE:WFT) opened at 5.89 on Friday. The stock’s market cap is $5.28 billion. Weatherford International Ltd. has a one year low of $4.71 and a one year high of $11.49. The company’s 50-day moving average price is $5.70 and its 200-day moving average price is $6.16.
Weatherford International (NYSE:WFT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.02. Weatherford International had a negative return on equity of 13.41% and a negative net margin of 33.73%. The business earned $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the business posted ($0.10) EPS. Weatherford International’s revenue for the quarter was down 41.3% compared to the same quarter last year. Analysts forecast that Weatherford International Ltd. will post $2.45 EPS for the current fiscal year.
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A number of large investors have recently modified their holdings of WFT. Orbis Allan Gray Ltd acquired a new stake in shares of Weatherford International during the first quarter worth about $130,340,000. Geode Capital Management LLC raised its stake in shares of Weatherford International by 18.8% in the first quarter. Geode Capital Management LLC now owns 5,390,989 shares of the company’s stock worth $41,919,000 after buying an additional 853,411 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Weatherford International by 116.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 376,090 shares of the company’s stock worth $2,926,000 after buying an additional 202,300 shares during the last quarter. State Street Corp raised its stake in shares of Weatherford International by 36.9% in the first quarter. State Street Corp now owns 26,567,174 shares of the company’s stock worth $206,692,000 after buying an additional 7,166,608 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Weatherford International by 5.4% in the second quarter. Vanguard Group Inc. now owns 68,298,516 shares of the company’s stock worth $379,057,000 after buying an additional 3,504,828 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.
A number of analysts recently commented on the company. Vetr downgraded Weatherford International from a “buy” rating to a “hold” rating and set a $6.95 price target for the company. in a research report on Monday, June 13th. Bank of America Corp. assumed coverage on Weatherford International in a research report on Monday, June 13th. They set an “underperform” rating for the company. Citigroup Inc. increased their price target on Weatherford International from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, June 14th. Imperial Capital assumed coverage on Weatherford International in a research report on Friday, June 24th. They set an “in-line” rating and a $7.00 price target for the company. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Weatherford International in a research report on Friday, August 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $8.83.
About Weatherford International
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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