Weatherford International Plc (NYSE:WFT) – Research analysts at Griffin Securities cut their Q1 2018 EPS estimates for shares of Weatherford International in a note issued to investors on Wednesday. Griffin Securities analyst K. Simpson now anticipates that the oil and gas company will post earnings per share of ($0.23) for the quarter, down from their prior forecast of ($0.18). Griffin Securities also issued estimates for Weatherford International’s Q2 2018 earnings at ($0.20) EPS, Q3 2018 earnings at ($0.15) EPS, Q4 2018 earnings at ($0.11) EPS, FY2018 earnings at ($0.70) EPS and FY2019 earnings at ($0.05) EPS.
WFT has been the topic of several other research reports. Loop Capital set a $5.00 price objective on Weatherford International and gave the company a “buy” rating in a research report on Tuesday, February 6th. Zacks Investment Research raised Weatherford International from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Jefferies Group downgraded Weatherford International from a “hold” rating to an “underperform” rating and set a $3.00 price objective on the stock. in a research report on Thursday, January 4th. UBS Group set a $6.00 price objective on Weatherford International and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Finally, Bank of America raised Weatherford International from an “underperform” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Tuesday, January 16th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $5.59.
Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.12). The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Weatherford International had a negative net margin of 49.36% and a negative return on equity of 75.02%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned ($0.32) EPS.
In other Weatherford International news, VP Douglas M. Mills sold 17,931 shares of the 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 sale, the vice president now directly owns 238,471 shares in the company, valued at $1,034,964.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Douglas M. Mills sold 6,072 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $4.24, for a total value of $25,745.28. Following the completion of the sale, the vice president now owns 232,399 shares of the company’s stock, valued at $985,371.76. The disclosure for this sale can be found here. Insiders have sold a total of 46,726 shares of company stock valued at $193,648 over the last 90 days. 1.16% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia raised its stake in Weatherford International by 825.9% in the second quarter. Bank of Nova Scotia now owns 331,000 shares of the oil and gas company’s stock valued at $1,281,000 after buying an additional 376,600 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Weatherford International in the third quarter valued at about $392,000. Timber Hill LLC purchased a new stake in Weatherford International in the third quarter valued at about $280,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Weatherford International by 35.9% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 412,589 shares of the oil and gas company’s stock valued at $1,890,000 after buying an additional 109,098 shares during the last quarter. Finally, Precocity Capital LP raised its stake in Weatherford International by 47.1% in the third quarter. Precocity Capital LP now owns 1,250,000 shares of the oil and gas company’s stock valued at $5,725,000 after buying an additional 400,000 shares during the last quarter.
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Weatherford International Company Profile
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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