Weatherford International PLC (WFT) Stock Price Down 3.7%

Weatherford International PLC (NYSE:WFT) shares dropped 3.7% on Tuesday . The stock traded as low as $3.62 and last traded at $3.92. Approximately 13,647,600 shares changed hands during trading, a decline of 37% from the average daily volume of 21,617,539 shares. The stock had previously closed at $4.07.

WFT has been the topic of several analyst reports. Scotiabank reiterated a “buy” rating on shares of Weatherford International PLC in a research note on Tuesday, August 29th. ValuEngine cut shares of Weatherford International PLC from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Jefferies Group LLC set a $5.00 price target on shares of Weatherford International PLC and gave the stock a “hold” rating in a research note on Thursday, October 5th. Zacks Investment Research cut shares of Weatherford International PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, BidaskClub upgraded shares of Weatherford International PLC from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Weatherford International PLC presently has a consensus rating of “Buy” and a consensus target price of $6.07.

The company has a current ratio of 2.04, a quick ratio of 1.33 and a debt-to-equity ratio of 5.44.

Weatherford International PLC (NYSE:WFT) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Weatherford International PLC had a negative net margin of 25.36% and a negative return on equity of 67.44%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm posted ($0.39) EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. research analysts anticipate that Weatherford International PLC will post -1.02 earnings per share for the current year.

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

Several institutional investors have recently bought and sold shares of WFT. Principal Financial Group Inc. bought a new stake in shares of Weatherford International PLC in the 1st quarter worth about $616,000. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Weatherford International PLC by 521.9% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 151,042 shares of the oil and gas company’s stock worth $585,000 after buying an additional 126,754 shares during the last quarter. Exane Derivatives bought a new stake in shares of Weatherford International PLC in the 2nd quarter worth about $1,637,000. Sippican Capital Advisors increased its holdings in shares of Weatherford International PLC by 4.7% in the 2nd quarter. Sippican Capital Advisors now owns 291,716 shares of the oil and gas company’s stock worth $1,129,000 after buying an additional 12,976 shares during the last quarter. Finally, Doyle Wealth Management increased its holdings in shares of Weatherford International PLC by 92.5% in the 2nd quarter. Doyle Wealth Management now owns 1,944,053 shares of the oil and gas company’s stock worth $7,523,000 after buying an additional 934,379 shares during the last quarter.

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