Insider Selling: Weatherford International Ltd. (WFT) VP Sells 12,500 Shares of Stock
Weatherford International Ltd. (NYSE:WFT) VP Douglas M. Mills sold 12,500 shares of the firm’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $5.97, for a total value of $74,625.00. Following the transaction, the vice president now owns 223,933 shares in the company, valued at approximately $1,336,880.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Weatherford International Ltd. (NYSE:WFT) opened at 5.89 on Friday. The company’s market capitalization is $5.28 billion. The stock’s 50 day moving average price is $5.70 and its 200-day moving average price is $6.16. Weatherford International Ltd. has a 52-week low of $4.71 and a 52-week high of $11.49.
Weatherford International (NYSE:WFT) last posted its earnings results on Wednesday, July 27th. The company reported ($0.28) earnings per share for the quarter, beating 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 company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was down 41.3% on a year-over-year basis. On average, equities analysts expect that Weatherford International Ltd. will post $2.45 earnings per share for the current year.
A number of equities analysts have issued reports on WFT shares. Vetr cut Weatherford International from a “buy” rating to a “hold” rating and set a $6.95 target price on the stock. in a report on Monday, June 13th. Bank of America Corp. started coverage on Weatherford International in a report on Monday, June 13th. They set an “underperform” rating on the stock. Citigroup Inc. raised their target price on Weatherford International from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Imperial Capital started coverage on Weatherford International in a report on Friday, June 24th. They set an “in-line” rating and a $7.00 target price on the stock. Finally, Jefferies Group restated a “buy” rating and set a $8.00 target price on shares of Weatherford International in a report on Sunday, July 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $8.83.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Baird Financial Group Inc. raised its position in Weatherford International by 35.8% in the second quarter. Baird Financial Group Inc. now owns 18,220 shares of the company’s stock worth $109,000 after buying an additional 4,800 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Weatherford International by 29.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 19,011 shares of the company’s stock worth $106,000 after buying an additional 4,295 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Weatherford International by 3.5% in the second quarter. CIBC Asset Management Inc now owns 19,189 shares of the company’s stock worth $106,000 after buying an additional 647 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Weatherford International by 90.4% in the second quarter. Bessemer Group Inc. now owns 20,989 shares of the company’s stock worth $116,000 after buying an additional 9,967 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Weatherford International during the second quarter worth approximately $119,000. Institutional investors own 97.21% of the company’s stock.
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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