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Weatherford International (NASDAQ:WFRD) Shares Down 9.8%

Defense World ·  09/25 16:11

Weatherford International plc (NASDAQ:WFRD – Get Rating)'s stock price was down 9.8% during trading on Friday . The stock traded as low as $28.24 and last traded at $28.30. Approximately 537 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 638,663 shares. The stock had previously closed at $31.38.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WFRD shares. The Goldman Sachs Group upped their price target on shares of Weatherford International from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday. Evercore ISI reaffirmed an "outperform" rating and issued a $53.00 price target on shares of Weatherford International in a report on Tuesday, September 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Weatherford International in a research report on Wednesday, June 8th. They set a "buy" rating and a $49.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $46.80.

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Weatherford International Price Performance

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 stock has a market capitalization of $2.04 billion, a PE ratio of -6.11 and a beta of 1.40. The business has a fifty day moving average price of $25.72 and a 200-day moving average price of $28.84.

Weatherford International (NASDAQ:WFRD – Get Rating) last issued its earnings results on Wednesday, July 27th. The company reported ($0.11) earnings per share (EPS) for the quarter. The firm had revenue of $1.06 billion during the quarter. Weatherford International had a negative return on equity of 26.60% and a negative net margin of 8.44%. Research analysts expect that Weatherford International plc will post -0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Weatherford International

Large investors have recently added to or reduced their stakes in the business. State Street Corp boosted its position in Weatherford International by 317.1% during the second quarter. State Street Corp now owns 1,571,745 shares of the company's stock valued at $33,274,000 after buying an additional 1,194,930 shares during the period. Loomis Sayles & Co. L P purchased a new stake in Weatherford International during the 2nd quarter valued at about $24,015,000. Greenlight Capital Inc. bought a new position in Weatherford International during the 1st quarter worth approximately $23,426,000. Northern Trust Corp increased its stake in Weatherford International by 274.7% in the 2nd quarter. Northern Trust Corp now owns 641,029 shares of the company's stock worth $13,570,000 after purchasing an additional 469,941 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Weatherford International by 108.1% in the second quarter. Goldman Sachs Group Inc. now owns 587,118 shares of the company's stock valued at $12,430,000 after purchasing an additional 305,031 shares during the last quarter. Hedge funds and other institutional investors own 94.13% of the company's stock.

About Weatherford International

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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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