Weatherford International Ltd. (NYSE:WFT) VP Douglas M. Mills sold 12,500 shares of Weatherford International stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $5.97, for a total transaction of $74,625.00. Following the completion of the transaction, the vice president now directly owns 223,933 shares in the company, valued at approximately $1,336,880.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Weatherford International Ltd. (NYSE:WFT) opened at 5.89 on Friday. Weatherford International Ltd. has a one year low of $4.71 and a one year high of $11.49. The firm has a 50-day moving average of $5.70 and a 200 day moving average of $6.16. The company’s market cap is $5.28 billion.
Weatherford International (NYSE:WFT) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.02. The company earned $1.40 billion during the quarter, compared to the consensus estimate of $1.44 billion. Weatherford International had a negative return on equity of 13.41% and a negative net margin of 33.73%. The firm’s revenue for the quarter was down 41.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) EPS. Equities research analysts anticipate that Weatherford International Ltd. will post $2.45 EPS for the current year.
Several research firms have recently weighed in on WFT. Jefferies Group reissued a “buy” rating and issued a $8.00 target price on shares of Weatherford International in a research report on Sunday, July 10th. Citigroup Inc. dropped their target price on shares of Weatherford International from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Bank of America Corp. began coverage on shares of Weatherford International in a research report on Monday, June 13th. They issued an “underperform” rating on the stock. Seaport Global Securities reissued a “buy” rating on shares of Weatherford International in a research report on Friday, August 19th. Finally, Nomura set a $10.00 target price on shares of Weatherford International and gave the stock a “buy” rating in a research report on Tuesday, August 16th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $8.83.
Large investors have recently added to or reduced their stakes in the stock. Virginia Retirement System bought a new stake in Weatherford International during the first quarter valued at approximately $368,000. Teachers Advisors Inc. increased its stake in Weatherford International by 20.6% in the first quarter. Teachers Advisors Inc. now owns 5,387,541 shares of the company’s stock valued at $41,915,000 after buying an additional 919,297 shares during the last quarter. Prudential Financial Inc. increased its stake in Weatherford International by 366.8% in the first quarter. Prudential Financial Inc. now owns 60,324 shares of the company’s stock valued at $469,000 after buying an additional 47,400 shares during the last quarter. BlackRock Fund Advisors increased its stake in Weatherford International by 11.3% in the first quarter. BlackRock Fund Advisors now owns 10,695,279 shares of the company’s stock valued at $83,209,000 after buying an additional 1,086,830 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Weatherford International by 12.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 21,262,486 shares of the company’s stock valued at $165,422,000 after buying an additional 2,378,901 shares during the last quarter. 97.21% of the stock is owned by institutional investors.
About Weatherford International
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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