Weatherford International Plc (NYSE:WFT) Shorts Decreased by 4.54% After Short Covering

The stock of Weatherford International Plc (NYSE:WFT) registered a decrease of 4.54% in short interest. WFT’s total short interest was 59.43M shares in September as published by FINRA. Its down 4.54% from 62.26 million shares, reported previously. With 11.03M shares average volume, it will take short sellers 5 days to cover their WFT’s short positions. The short interest to Weatherford International Plc’s float is 6.68%. The stock increased 4.99% or $0.26 during the last trading session, hitting $5.47. Weatherford International Plc (NYSE:WFT) has declined 7.76% since February 25, 2016 and is downtrending. It has underperformed by 19.01% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 1.29 in Q2 2016. Its down 0.05, from 1.34 in 2016Q1. The ratio worsened, as 61 funds sold all Weatherford International Plc shares owned while 78 reduced positions. 55 funds bought stakes while 124 increased positions. They now own 687.46 million shares or 3.50% less from 712.38 million shares in 2016Q1.

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.

Out of 17 analysts covering Weatherford International plc (NYSE:WFT), 13 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 76% are positive. Weatherford International plc has been the topic of 40 analyst reports since October 1, 2015 according to StockzIntelligence Inc. Howard Weil maintained the stock on May 6 with “Sector Perform” rating.

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