Deprince Race & Zollo Inc. bought a new position in shares of Weatherford International Ltd. (NYSE:WFT) during the second quarter, Holdings Channel reports. The firm bought 45,000 shares of the company’s stock, valued at approximately $250,000.
Several other hedge funds have also made changes to their positions in the stock. LS Investment Advisors LLC boosted its position in shares of Weatherford International by 57.5% in the second quarter. LS Investment Advisors LLC now owns 24,812 shares of the company’s stock worth $138,000 after buying an additional 9,055 shares during the period. Oak Associates Ltd. OH boosted its position in shares of Weatherford International by 103.7% in the first quarter. Oak Associates Ltd. OH now owns 21,590 shares of the company’s stock worth $168,000 after buying an additional 10,990 shares during the period. CIBC World Markets Inc. boosted its position in shares of Weatherford International by 50.6% in the second quarter. CIBC World Markets Inc. now owns 60,502 shares of the company’s stock worth $336,000 after buying an additional 20,317 shares during the period. Virginia Retirement System bought a new position in shares of Weatherford International during the first quarter worth about $368,000. Finally, Brookfield Asset Management Inc. raised its stake in Weatherford International by 173.8% in the first quarter. Brookfield Asset Management Inc. now owns 50,660 shares of the company’s stock worth $394,000 after buying an additional 32,160 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.
Shares of Weatherford International Ltd. (NYSE:WFT) traded down 1.01% during trading on Friday, reaching $5.89. The company’s stock had a trading volume of 14,583,999 shares. The stock’s market cap is $5.28 billion. The stock’s 50-day moving average is $5.70 and its 200-day moving average is $6.16. Weatherford International Ltd. has a 12-month low of $4.71 and a 12-month high of $11.49.
Weatherford International (NYSE:WFT) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.02. Weatherford International had a negative return on equity of 13.41% and a negative net margin of 33.73%. The firm earned $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company earned ($0.10) earnings per share. The business’s revenue for the quarter was down 41.3% on a year-over-year basis. Equities research analysts anticipate that Weatherford International Ltd. will post $2.45 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on WFT shares. Vetr lowered Weatherford International from a “strong-buy” rating to a “buy” rating and set a $6.95 price target on the stock. in a research report on Monday, June 27th. Jefferies Group reaffirmed a “buy” rating and set a $7.00 price target (down previously from $8.00) on shares of Weatherford International in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $9.00 price target on shares of Weatherford International in a research report on Friday, July 29th. Zacks Investment Research raised Weatherford International from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a research report on Thursday. Finally, Citigroup Inc. lifted their target price on Weatherford International from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, June 14th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $8.83.
In other news, VP Douglas M. Mills sold 12,500 shares of the firm’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $5.97, for a total value of $74,625.00. Following the completion of the transaction, the vice president now directly owns 223,933 shares of the company’s stock, valued at $1,336,880.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.
Weatherford International Company Profile
Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.
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