Weatherford International PLC (NYSE:WFT) was the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 143,856,654 shares, a decrease of 6.4% from the July 14th total of 153,767,360 shares. Based on an average daily volume of 19,015,509 shares, the short-interest ratio is presently 7.6 days. Currently, 14.8% of the shares of the stock are sold short.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Weatherford International PLC by 1.5% in the second quarter. Vanguard Group Inc. now owns 83,499,841 shares of the oil and gas company’s stock worth $323,144,000 after buying an additional 1,203,292 shares during the period. Harris Associates L P boosted its position in shares of Weatherford International PLC by 2,166.3% in the second quarter. Harris Associates L P now owns 61,075,275 shares of the oil and gas company’s stock valued at $236,361,000 after buying an additional 58,380,345 shares in the last quarter. State Street Corp boosted its position in shares of Weatherford International PLC by 3.3% in the second quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock valued at $195,718,000 after buying an additional 1,617,102 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Weatherford International PLC by 71.9% in the second quarter. Wedge Capital Management L L P NC now owns 29,156,413 shares of the oil and gas company’s stock valued at $112,835,000 after buying an additional 12,194,205 shares in the last quarter. Finally, ARGA Investment Management LP boosted its position in shares of Weatherford International PLC by 1.2% in the first quarter. ARGA Investment Management LP now owns 13,687,202 shares of the oil and gas company’s stock valued at $91,020,000 after buying an additional 168,500 shares in the last quarter.

Several equities analysts have recently issued reports on the stock. UBS AG reaffirmed a “buy” rating and set a $8.00 price target (down previously from $9.00) on shares of Weatherford International PLC in a research note on Tuesday, May 2nd. Barclays PLC upgraded shares of Weatherford International PLC from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $7.00 to $6.00 in a report on Wednesday, June 21st. Sanford C. Bernstein cut shares of Weatherford International PLC from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $7.00 to $5.00 in a report on Thursday, July 6th. Royal Bank Of Canada set a $8.00 price target on shares of Weatherford International PLC and gave the stock a “buy” rating in a report on Saturday, June 24th. Finally, Seaport Global Securities cut shares of Weatherford International PLC from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $4.00 in a report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $6.52.

Shares of Weatherford International PLC (NYSE WFT) opened at 4.00 on Tuesday. The stock’s 50 day moving average price is $4.11 and its 200-day moving average price is $5.18. The stock’s market cap is $3.96 billion. Weatherford International PLC has a 52 week low of $3.39 and a 52 week high of $7.09.

Weatherford International PLC (NYSE:WFT) last issued its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share for the quarter, hitting the 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 return on equity of 65.33% and a negative net margin of 53.49%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.28) EPS. Equities analysts anticipate that Weatherford International PLC will post ($1.03) earnings per share for the current fiscal year.

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About Weatherford International PLC

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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