November 29, 2016 - By Peter Erickson · 0 Comments
Weatherford International LTD (NYSE:WFT) institutional sentiment decreased to 1.18 in 2016 Q2. Its down -0.11, from 1.29 in 2016Q1. The ratio is negative, as 179 hedge funds started new or increased positions, while 139 reduced and sold holdings in Weatherford International LTD. The hedge funds in our partner’s database now have: 687.46 million shares, down from 712.38 million shares in 2016Q1. Also, the number of hedge funds holding Weatherford International LTD in their top 10 positions was flat from 3 to 3 for the same number . Sold All: 61 Reduced: 78 Increased: 124 New Position: 55.
About 2,550 shares traded hands. Weatherford International Plc (NYSE:WFT) has declined 42.95% since April 26, 2016 and is downtrending. It has underperformed by 48.21% the S&P500.
Analysts await Weatherford International Plc (NYSE:WFT) to report earnings on February, 1. They expect $-0.30 earnings per share, down 130.77% or $0.17 from last year’s $-0.13 per share. After $-0.39 actual earnings per share reported by Weatherford International Plc for the previous quarter, Wall Street now forecasts -23.08% EPS growth.
According to Zacks Investment Research, “Weatherford International is one of the world’s leading providers of equipment and services used for the drilling, completion and production of oil and natural gas wells. Its operations are conducted in numerous countries and it has service and sales locations in substantially all of the oil and natural gas producing regions in the world. The company’s products and services are divided into the following four principal operating divisions: Drilling and Intervention Services; Completion Systems; Artificial Lift Systems; and Compression Services.”
Arga Investment Management Lp holds 18.69% of its portfolio in Weatherford International Plc for 10.79 million shares. Schneider Capital Management Corp owns 6.08 million shares or 6.31% of their US portfolio. Moreover, Stanley Capital Management Llc has 2.77% invested in the company for 495,211 shares. The Texas-based Mitchell Group Inc has invested 2.73% in the stock. Energy Opportunities Capital Management Llc, a Texas-based fund reported 1.29 million shares.#img1#
Ratings analysis reveals 82% of Weatherford International Ltd.’s analysts are positive. Out of 22 Wall Street analysts rating Weatherford International Ltd., 18 give it “Buy”, 1 “Sell” rating, while 3 recommend “Hold”. The lowest target is $5.50 while the high is $20. The stock’s average target of $9.54 is 110.60% above today’s ($4.53) share price. WFT was included in 57 notes of analysts from July 24, 2015. The rating was upgraded by Goldman Sachs to “Buy” on Friday, March 11. The rating was maintained by Citigroup on Thursday, May 19 with “Buy”. Howard Weil maintained Weatherford International Plc (NYSE:WFT) on Thursday, October 27 with “Sector Perform” rating. As per Friday, December 11, the company rating was upgraded by Citigroup. Susquehanna upgraded the shares of WFT in a report on Tuesday, October 27 to “Positive” rating. The company was downgraded on Friday, May 6 by Wells Fargo. The firm has “Buy” rating by Guggenheim given on Friday, July 24. The firm has “Equal Weight” rating by Barclays Capital given on Monday, July 27. The company was initiated on Friday, June 24 by Imperial Capital. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, January 20.
Weatherford International plc, incorporated on March 3, 2014, is an oilfield service company. The Firm provides equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Firm operates through five divisions: North America, Latin America, Europe/Sub-Sahara Africa (SSA)/Russia, Middle East/North Africa (MENA)/Asia Pacific and Land Drilling Rigs. The Firm offers products through three business groups: Formation Evaluation and Well Construction, Completion and Production, and Land Drilling Rigs, which together include approximately 14 product lines. Formation Evaluation and Well Construction includes Managed-Pressure Drilling, Drilling Services, Tubular Running Services, Drilling Tools, Wireline Services, Testing and Production Services, Re-entry and Fishing Services, Cementing, Liner Systems, Integrated Laboratory Services and Surface Logging Systems. Completion and Production includes Artificial Lift Systems, Stimulation and Completion Systems. Land Drilling Rigs encompasses land drilling rigs business, including the services and products ancillary thereto.
More news for Weatherford International Plc (NYSE:WFT) were recently published by: Fool.com, which released: “Here’s Why Weatherford International Plc’s Stock Plunged Today” on November 01, 2016. Marketwatch.com‘s article titled: “Longtime Weatherford CEO Bernard Duroc-Danner stepping down” and published on November 09, 2016 is yet another important article.
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By Peter Erickson