Capital Innovations LLC Invests $352,000 in Weatherford International PLC (WFT)

Capital Innovations LLC bought a new stake in Weatherford International PLC (NYSE:WFT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 90,875 shares of the oil and gas company’s stock, valued at approximately $352,000.

Several other institutional investors also recently modified their holdings of the company. Bank of Nova Scotia boosted its holdings in shares of Weatherford International PLC by 825.9% in the 2nd 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 in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Weatherford International PLC by 67.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 112,519 shares of the oil and gas company’s stock valued at $435,000 after buying an additional 45,330 shares in the last quarter. TVR Capital Management LP acquired a new position in shares of Weatherford International PLC in the 2nd quarter valued at $3,894,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Weatherford International PLC 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 valued at $215,000 after buying an additional 4,497 shares in the last quarter. Finally, KLCM Advisors Inc. boosted its holdings in shares of Weatherford International PLC by 0.9% in the 2nd quarter. KLCM Advisors Inc. now owns 539,333 shares of the oil and gas company’s stock valued at $2,087,000 after buying an additional 4,776 shares in the last quarter.

Several research analysts have recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $6.00 target price (down previously from $12.00) on shares of Weatherford International PLC in a report on Wednesday, June 21st. Citigroup Inc. upped their target price on shares of Weatherford International PLC from $5.30 to $5.60 and gave the company a “buy” rating in a report on Thursday, October 5th. Seaport Global Securities restated a “neutral” rating on shares of Weatherford International PLC in a report on Friday, July 28th. Deutsche Bank AG assumed coverage on shares of Weatherford International PLC in a report on Tuesday. They issued a “buy” rating and a $6.00 target price for the company. Finally, ValuEngine cut shares of Weatherford International PLC from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $6.18.

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In other news, VP Douglas M. Mills sold 17,500 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $4.43, for a total transaction of $77,525.00. Following the completion of the transaction, the vice president now owns 279,125 shares of the company’s stock, valued at $1,236,523.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.16% of the company’s stock.

Weatherford International PLC (WFT) traded up 0.831% during mid-day trading on Tuesday, hitting $4.245. 8,328,552 shares of the stock traded hands. The stock has a 50-day moving average of $4.16 and a 200 day moving average of $4.67. Weatherford International PLC has a 1-year low of $3.39 and a 1-year high of $7.09. The firm’s market cap is $4.20 billion.

Weatherford International PLC (NYSE:WFT) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.28). Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts expect that Weatherford International PLC will post ($1.04) EPS for the current year.

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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