The stock of Weatherford International Plc (NYSE:WFT) is a huge mover today! About 9.85 million shares traded hands. Weatherford International Plc (NYSE:WFT) has declined 19.48% since March 16, 2016 and is downtrending. It has underperformed by 25.03% the S&P500.
The move comes after 5 months positive chart setup for the $5.30B company. It was reported on Oct, 19 by Barchart.com. We have $10.27 PT which if reached, will make NYSE:WFT worth $3.39 billion more.
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 firm has “Outperform” rating by Oppenheimer given on Monday, October 26. The firm has “Positive” rating by Susquehanna given on Tuesday, October 27. Cowen & Co maintained Weatherford International Plc (NYSE:WFT) on Thursday, July 23 with “Outperform” rating. Citigroup maintained Weatherford International Plc (NYSE:WFT) rating on Monday, October 5. Citigroup has “Neutral” rating and $10 price target. Cowen & Co maintained Weatherford International Plc (NYSE:WFT) rating on Friday, February 5. Cowen & Co has “Outperform” rating and $9 price target. The firm has “Buy” rating given on Friday, March 11 by Goldman Sachs. The rating was maintained by Citigroup with “Buy” on Wednesday, October 5. The rating was downgraded by Stephens to “Equal-Weight” on Thursday, December 3. Seaport Global upgraded Weatherford International Plc (NYSE:WFT) on Friday, May 6 to “Buy” rating. The stock of Weatherford International Plc (NYSE:WFT) has “Outperform” rating given on Friday, September 4 by Credit Suisse.
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 2016 Q2. Its down 0.05, from 1.34 in 2016Q1. The ratio dropped, 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.
Gardner Lewis Asset Ltd Partnership holds 0.02% of its portfolio in Weatherford International Plc (NYSE:WFT) for 36,230 shares. 1832 Asset Mgmt L P accumulated 106,000 shares or 0% of the stock. Bb&T Ltd Com reported 251,143 shares or 0.02% of all its holdings. Morgan Stanley holds 0.01% of its portfolio in Weatherford International Plc (NYSE:WFT) for 5.02 million shares. Graham Cap Mgmt L P owns 339,620 shares or 0.1% of their US portfolio. Rhumbline Advisers last reported 0.01% of its portfolio in the stock. Sprott holds 0.06% of its portfolio in Weatherford International Plc (NYSE:WFT) for 200,000 shares. Citigroup Inc has invested 0.01% of its portfolio in Weatherford International Plc (NYSE:WFT). Cambridge Advsrs accumulated 0% or 19,011 shares. Commonwealth Equity Service reported 31,354 shares or 0% of all its holdings. Diam Limited holds 0.02% of its portfolio in Weatherford International Plc (NYSE:WFT) for 187,047 shares. New York State Common Retirement Fund owns 3.15 million shares or 0.03% of their US portfolio. Glenmede Na has 0% invested in the company for 977 shares. The New York-based Etrade Capital Mngmt has invested 0.01% in Weatherford International Plc (NYSE:WFT). Public Employees Retirement Association Of Colorado holds 0.01% or 180,047 shares in its portfolio.
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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