Today’s Stock On Watch: What’s in Weatherford International Plc After Today’s Significant Decline?

Today's Stock On Watch: What's in Weatherford International Plc After Today's Significant Decline?

The stock of Weatherford International Plc (NYSE:WFT) is a huge mover today! About 18.86 million shares traded hands. Weatherford International Plc (NYSE:WFT) has declined 35.62% since April 18, 2016 and is downtrending. It has underperformed by 40.05% the S&P500.
The move comes after 8 months negative chart setup for the $4.54B company. It was reported on Nov, 18 by Barchart.com. We have $4.55 PT which if reached, will make NYSE:WFT worth $272.40M less.

Weatherford International Plc (NYSE:WFT) Ratings Coverage

Out of 22 analysts covering Weatherford International Ltd. (NYSE:WFT), 18 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 82% are positive. Weatherford International Ltd. has been the topic of 57 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Thursday, December 3 the stock rating was downgraded by Stephens to “Equal-Weight”. On Wednesday, October 5 the stock rating was maintained by Citigroup with “Buy”. On Friday, December 11 the stock rating was upgraded by Citigroup to “Buy”. On Wednesday, January 20 the stock rating was maintained by RBC Capital Markets with “Outperform”. The stock of Weatherford International Plc (NYSE:WFT) has “Buy” rating given on Thursday, May 19 by Citigroup. Credit Suisse maintained the stock with “Outperform” rating in Friday, September 4 report. Barclays Capital upgraded Weatherford International Plc (NYSE:WFT) on Monday, July 27 to “Equal Weight” rating. Imperial Capital initiated the shares of WFT in a report on Friday, June 24 with “In-Line” rating. DA Davidson initiated the stock with “Buy” rating in Friday, February 19 report. The rating was initiated by Bank of America with “Underperform” on Monday, June 13.

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 1.18 in Q2 2016. Its down 0.11, from 1.29 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.
Prudential has 66,424 shares for 0% of their US portfolio. Moreover, Graham Capital Management Ltd Partnership has 0.1% invested in Weatherford International Plc (NYSE:WFT) for 339,620 shares. Plante Moran Advisors Ltd Liability Co owns 443 shares or 0% of their US portfolio. Art Advsr Ltd Liability Co has 0.12% invested in the company for 446,433 shares. Commerzbank Aktiengesellschaft Fi holds 0.01% of its portfolio in Weatherford International Plc (NYSE:WFT) for 143,091 shares. Franklin Resources Inc last reported 1.16M shares in the company. Moreover, Whittier Trust Of Nevada has 0% invested in Weatherford International Plc (NYSE:WFT) for 500 shares. Amp Cap Invsts Limited owns 419,087 shares or 0.02% of their US portfolio. Balyasny Asset Management Ltd Liability Corporation has invested 0.59% of its portfolio in Weatherford International Plc (NYSE:WFT). Credit Agricole S A reported 163,135 shares or 0% of all its holdings. Fifth Third Savings Bank has invested 0% of its portfolio in Weatherford International Plc (NYSE:WFT). First Manhattan last reported 79,497 shares in the company. Sigma Investment Counselors has 18,000 shares for 0.02% of their US portfolio. Vanguard holds 68.30 million shares or 0.02% of its portfolio. Axa has 50,496 shares for 0% of their US portfolio.

More recent Weatherford International Plc (NYSE:WFT) news were published by: Fool.com which released: “Here’s Why Weatherford International Plc’s Stock Plunged Today” on November 01, 2016. Also Foxbusiness.com published the news titled: “Weatherford International CEO Bernard Duroc-Danner leaves” on November 09, 2016. Seekingalpha.com‘s news article titled: “Weatherford International Plc (WFT) Q3 2016 Results – Earnings Call Transcript” with publication date: October 26, 2016 was also an interesting one.

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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