Weatherford International PLC (WFT) Shares Gap Down to $4.24

Shares of Weatherford International PLC (NYSE:WFT) gapped down prior to trading on Monday . The stock had previously closed at $4.30, but opened at $4.24. Weatherford International PLC shares last traded at $4.19, with a volume of 5,271,385 shares traded.

WFT has been the subject of a number of research analyst reports. Barclays PLC upgraded shares of Weatherford International PLC from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $7.00 to $6.00 in a research note on Wednesday, June 21st. Seaport Global Securities lowered shares of Weatherford International PLC from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $4.00 in a research note on Wednesday, June 21st. Morgan Stanley restated an “overweight” rating and issued a $6.00 price target (down previously from $12.00) on shares of Weatherford International PLC in a research note on Wednesday, June 21st. 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 research note on Saturday, June 24th. Finally, Sanford C. Bernstein lowered shares of Weatherford International PLC from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $7.00 to $5.00 in a research note on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $6.18.

The firm’s 50 day moving average is $4.17 and its 200-day moving average is $4.66. The firm’s market capitalization is $4.05 billion.

Weatherford International PLC (NYSE:WFT) last issued its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. Weatherford International PLC’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned ($0.28) earnings per share. Equities research analysts forecast that Weatherford International PLC will post ($1.04) EPS for the current year.

In other Weatherford International PLC news, VP Douglas M. Mills sold 17,500 shares of the stock in a transaction on Friday, September 15th. The stock was 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 directly owns 279,125 shares in the company, valued at $1,236,523.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.16% of the company’s stock.

Several large investors have recently made changes to their positions in WFT. Laurion Capital Management LP acquired a new stake in shares of Weatherford International PLC in the first quarter valued at $109,000. Two Sigma Securities LLC increased its stake in shares of Weatherford International PLC by 14.5% in the first quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 2,238 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Weatherford International PLC by 1.5% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 33,000 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 500 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Weatherford International PLC in the first quarter valued at $129,000. Finally, Crawford Investment Counsel Inc. increased its stake in shares of Weatherford International PLC by 68.8% in the second quarter. Crawford Investment Counsel Inc. now owns 36,797 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 15,000 shares in the last quarter.

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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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