The stock of Weatherford International Plc (NYSE:WFT) is a huge mover today! About 4.81 million shares traded hands. Weatherford International Plc (NYSE:WFT) has declined 15.06% since March 11, 2016 and is downtrending. It has underperformed by 20.51% the S&P500.
The move comes after 7 months negative chart setup for the $5.51 billion company. It was reported on Oct, 14 by Barchart.com. We have $5.50 PT which if reached, will make NYSE:WFT worth $385.70M less.
Analysts await Weatherford International Plc (NYSE:WFT) to report earnings on October, 26 before the open. They expect $-0.25 earnings per share, down 400.00% or $0.20 from last year’s $-0.05 per share. After $-0.28 actual earnings per share 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 54 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was upgraded by Piper Jaffray on Friday, June 3 to “Overweight”. The stock of Weatherford International Plc (NYSE:WFT) earned “Buy” rating by Citigroup on Thursday, May 19. The firm earned “Buy” rating on Friday, September 11 by TD Securities. The stock of Weatherford International Plc (NYSE:WFT) earned “Overweight” rating by Stephens on Friday, August 28. The rating was maintained by Credit Suisse with “Outperform” on Friday, September 4. RBC Capital Markets maintained it with “Outperform” rating and $9 target price in Wednesday, January 20 report. On Thursday, July 23 the stock rating was maintained by Cowen & Co with “Outperform”. As per Thursday, December 3, the company rating was downgraded by Stephens. The stock of Weatherford International Plc (NYSE:WFT) has “Equal Weight” rating given on Monday, July 27 by Barclays Capital. Howard Weil maintained Weatherford International Plc (NYSE:WFT) on Friday, February 5 with “Sector Perform” rating.
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 dived, 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.
Levin Cap Strategies Ltd Partnership accumulated 18,400 shares or 0% of the stock. Dekabank Deutsche Girozentrale last reported 64,164 shares in the company. Moreover, Blackrock Institutional Na has 0.02% invested in Weatherford International Plc (NYSE:WFT) for 22.98 million shares. Quantitative Systematic Strategies Ltd Liability Corporation has invested 0.03% of its portfolio in Weatherford International Plc (NYSE:WFT). Adams Natural Fund last reported 1.22M shares in the company. Bnp Paribas Partners Sa accumulated 0% or 85,503 shares. Morgan Stanley holds 0.01% of its portfolio in Weatherford International Plc (NYSE:WFT) for 5.02 million shares. Cubist Systematic Strategies Limited Liability Corporation last reported 43,974 shares in the company. Advisory Services Net Limited Company last reported 798 shares in the company. Trust Department Mb Financial Bank N A accumulated 200 shares or 0% of the stock. Teacher Retirement Of Texas reported 4.05 million shares or 0.15% of all its holdings. Advsr Ok, a Oklahoma-based fund reported 10,000 shares. Carroll Assocs owns 1,509 shares or 0% of their US portfolio. Architects, a New Jersey-based fund reported 4,700 shares. D E Shaw last reported 69,368 shares in the company.
More news for Weatherford International Plc (NYSE:WFT) were recently published by: Reuters.com, which released: “Weatherford International to pay $140 million for accounting fraud” on September 27, 2016. Nasdaq.com‘s article titled: “The Zacks Analyst Blog Highlights: Halliburton, Schlumberger, Weatherford …” and published on October 13, 2016 is yet another important article.
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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