Weatherford International plc (NASDAQ:WFRD – Get Rating) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 2,300,000 shares, a drop of 21.2% from the September 15th total of 2,920,000 shares. Based on an average trading volume of 528,800 shares, the short-interest ratio is presently 4.3 days. Currently, 3.3% of the company’s shares are sold short.
Institutional Investors Weigh In On Weatherford International
A number of hedge funds have recently modified their holdings of WFRD. Geneos Wealth Management Inc. acquired a new stake in shares of Weatherford International during the first quarter worth about $25,000. Point72 Hong Kong Ltd acquired a new stake in shares of Weatherford International during the second quarter worth about $25,000. Spartan Fund Management Inc. acquired a new stake in shares of Weatherford International during the second quarter worth about $148,000. UBS Group AG raised its position in shares of Weatherford International by 83.6% during the first quarter. UBS Group AG now owns 5,985 shares of the company’s stock worth $199,000 after purchasing an additional 2,725 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of Weatherford International during the first quarter worth about $207,000. Institutional investors and hedge funds own 94.13% of the company’s stock.
Weatherford International Trading Down 2.2 %
NASDAQ:WFRD opened at $32.71 on Friday. Weatherford International has a 1-year low of $16.96 and a 1-year high of $40.16. The business’s 50-day moving average price is $29.35 and its two-hundred day moving average price is $28.90. The company has a current ratio of 2.18, a quick ratio of 1.66 and a debt-to-equity ratio of 4.82. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -6.93 and a beta of 1.01.
Weatherford International (NASDAQ:WFRD – Get Rating) last released its earnings results on Wednesday, July 27th. The company reported ($0.11) earnings per share for the quarter. The company had revenue of $1.06 billion during the quarter. Weatherford International had a negative net margin of 8.44% and a negative return on equity of 26.60%. On average, equities analysts expect that Weatherford International will post -0.7 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Weatherford International from $30.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, September 21st. Evercore ISI reissued an “outperform” rating and issued a $53.00 target price on shares of Weatherford International in a research note on Tuesday, September 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $46.80.
Weatherford International Company Profile
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Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing, cementing, and coiled-tubing intervention; and drill stem test tools, surface well testing, and multiphase flow measurement services.
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