Weatherford International (WFT) Shares Gap Down to $4.17
Weatherford International Plc (NYSE:WFT) shares gapped down before the market opened on Wednesday . The stock had previously closed at $4.64, but opened at $4.17. Weatherford International shares last traded at $3.46, with a volume of 74638600 shares trading hands.
A number of brokerages have commented on WFT. Jefferies Group cut shares of Weatherford International from a “hold” rating to an “underperform” rating and set a $3.00 price target on the stock. in a research report on Thursday. BMO Capital Markets reduced their price target on shares of Weatherford International from $5.50 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Morgan Stanley reduced their price target on shares of Weatherford International from $5.50 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Societe Generale upgraded shares of Weatherford International from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada set a $6.00 price target on shares of Weatherford International and gave the company a “buy” rating in a research report on Sunday, October 8th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $5.94.
The firm has a market capitalization of $3,640.00, a P/E ratio of -2.58 and a beta of 2.32. The company has a current ratio of 2.04, a quick ratio of 1.33 and a debt-to-equity ratio of 5.44.
In related news, VP Douglas M. Mills sold 7,500 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total value of $28,125.00. Following the completion of the sale, the vice president now owns 271,625 shares of the company’s stock, valued at $1,018,593.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.16% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC purchased a new stake in Weatherford International in the third quarter worth $123,000. Balentine LLC lifted its stake in Weatherford International by 68.5% in the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock worth $168,000 after acquiring an additional 14,922 shares during the period. Private Advisor Group LLC lifted its stake in Weatherford International by 63.2% in the second quarter. Private Advisor Group LLC now owns 39,207 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 15,178 shares during the period. Toronto Dominion Bank lifted its stake in Weatherford International by 244.5% in the third quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock worth $181,000 after acquiring an additional 28,070 shares during the period. Finally, CIBC World Markets Inc. purchased a new stake in Weatherford International in the second quarter worth $161,000.
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Weatherford International Company Profile
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