Price Action Don’t Lie: What’s Propelling Weatherford International Plc to Increase So Much?

Price Action Don't Lie: What's Propelling Weatherford International Plc to Increase So Much?

The stock of Weatherford International Plc (NYSE:WFT) is a huge mover today! About 25.60M shares traded hands or 35.59% up from the average. Weatherford International Plc (NYSE:WFT) has declined 22.61% since March 2, 2016 and is downtrending. It has underperformed by 30.87% the S&P500.
The move comes after 6 months positive chart setup for the $4.79 billion company. It was reported on Oct, 5 by Barchart.com. We have $9.67 PT which if reached, will make NYSE:WFT worth $3.31B more.

Analysts await Weatherford International Plc (NYSE:WFT) to report earnings on October, 26 before the open. They expect $-0.25 EPS, down 400.00% or $0.20 from last year’s $-0.05 per share. After $-0.28 actual EPS reported by Weatherford International Plc for the previous quarter, Wall Street now forecasts -10.71% EPS growth.

Weatherford International Plc (NYSE:WFT) Ratings Coverage

Out of 21 analysts covering Weatherford International Ltd. (NYSE:WFT), 17 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 81% are positive. Weatherford International Ltd. has been the topic of 53 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Barclays Capital upgraded the shares of WFT in a report on Monday, June 6 to “Overweight” rating. The stock of Weatherford International Plc (NYSE:WFT) has “Sector Perform” rating given on Friday, February 5 by Howard Weil. The rating was initiated by Imperial Capital on Friday, June 24 with “In-Line”. Citigroup upgraded Weatherford International Plc (NYSE:WFT) on Friday, December 11 to “Buy” rating. The stock has “Overweight” rating given by Stephens on Friday, August 28. Wells Fargo upgraded the stock to “Outperform” rating in Monday, January 11 report. The rating was upgraded by Susquehanna to “Positive” on Tuesday, October 27. Seaport Global upgraded Weatherford International Plc (NYSE:WFT) on Friday, May 6 to “Buy” rating. The stock of Weatherford International Plc (NYSE:WFT) has “Buy” rating given on Friday, September 11 by TD Securities. The company was downgraded on Thursday, December 3 by Stephens.

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.”

Insitutional Activity: The institutional sentiment decreased to 1.29 in Q2 2016. Its down 0.05, from 1.34 in 2016Q1. The ratio is negative, 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.
Quantitative Investment Ltd Company holds 1.21M shares or 0.31% of its portfolio. Pomelo Capital Limited Co has invested 0.12% of its portfolio in Weatherford International Plc (NYSE:WFT). The Japan-based Mitsubishi Ufj Tru & Bk Corp has invested 0.02% in Weatherford International Plc (NYSE:WFT). Lombard Odier Asset (Europe) Ltd owns 13,169 shares or 0% of their US portfolio. Vanguard Group, a Pennsylvania-based fund reported 68.30M shares. Edge Wealth Llc last reported 0.04% of its portfolio in the stock. Glenmede Tru Na reported 977 shares or 0% of all its holdings. Balyasny Asset Mgmt Ltd accumulated 16.50 million shares or 0.59% of the stock. Bluemountain Capital Limited Com, a New York-based fund reported 86,498 shares. Ibm Retirement Fund holds 105,772 shares or 0.02% of its portfolio. Princeton Alpha Management Lp owns 79,542 shares or 0.08% of their US portfolio. Hsbc Hldgs Public Limited Company holds 0% of its portfolio in Weatherford International Plc (NYSE:WFT) for 264,529 shares. Northern Tru last reported 0.01% of its portfolio in the stock. Riggs Asset Managment Incorporated owns 5,710 shares or 0.02% of their US portfolio. Berkshire Asset Mngmt Llc Pa has invested 0.07% of its portfolio in Weatherford International Plc (NYSE:WFT).

Another recent and important Weatherford International Plc (NYSE:WFT) news was published by Reuters.com which published an article titled: “Weatherford International to pay $140 million for accounting fraud” on September 27, 2016.

WFT Company Profile

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.

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