Weatherford International Ltd. (NYSE:WFT) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 80,388,281 shares, an increase of 21.6% from the October 14th total of 66,096,646 shares. Currently, 9.1% of the company’s shares are sold short. Based on an average trading volume of 27,057,764 shares, the days-to-cover ratio is currently 3.0 days.

A number of equities research analysts have recently weighed in on WFT shares. JPMorgan Chase & Co. restated a “buy” rating and issued a $9.00 price objective on shares of Weatherford International in a report on Friday, July 29th. Citigroup Inc. lowered their price objective on shares of Weatherford International from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, July 29th. Jefferies Group restated a “buy” rating and issued a $7.00 price objective (down from $8.00) on shares of Weatherford International in a report on Tuesday, August 2nd. Nomura set a $10.00 price objective on shares of Weatherford International and gave the stock a “buy” rating in a report on Tuesday, August 16th. Finally, Seaport Global Securities restated a “buy” rating on shares of Weatherford International in a report on Friday, August 19th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $8.27.

Weatherford International (NYSE:WFT) opened at 4.83 on Friday. The company’s market cap is $4.33 billion. The stock has a 50 day moving average of $5.35 and a 200 day moving average of $5.67. Weatherford International has a 52 week low of $3.73 and a 52 week high of $11.21.

Weatherford International (NYSE:WFT) last announced its quarterly earnings results on Tuesday, October 25th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Weatherford International had a negative net margin of 63.74% and a negative return on equity of 24.19%. The business’s quarterly revenue was down 39.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) EPS. Equities research analysts predict that Weatherford International will post ($1.27) EPS for the current fiscal year.

In other news, VP Douglas M. Mills sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $5.97, for a total value of $74,625.00. Following the completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in WFT. Berkshire Asset Management LLC PA raised its position in Weatherford International by 258.2% in the second quarter. Berkshire Asset Management LLC PA now owns 85,402 shares of the company’s stock valued at $474,000 after buying an additional 61,560 shares during the period. Eagle Asset Management Inc. raised its position in Weatherford International by 120.6% in the second quarter. Eagle Asset Management Inc. now owns 331,338 shares of the company’s stock valued at $1,838,000 after buying an additional 181,150 shares during the period. Creative Planning raised its position in Weatherford International by 16.5% in the second quarter. Creative Planning now owns 486,626 shares of the company’s stock valued at $2,701,000 after buying an additional 69,008 shares during the period. Oak Associates Ltd. OH raised its position in Weatherford International by 103.7% in the first quarter. Oak Associates Ltd. OH now owns 21,590 shares of the company’s stock valued at $168,000 after buying an additional 10,990 shares during the period. Finally, Magnetar Financial LLC raised its position in Weatherford International by 47.0% in the first quarter. Magnetar Financial LLC now owns 57,907 shares of the company’s stock valued at $451,000 after buying an additional 18,525 shares during the period. Hedge funds and other institutional investors own 97.61% 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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