Weatherford International Ltd. (NYSE:WFT) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 106,677,421 shares, an increase of 32.7% from the October 31st total of 80,388,281 shares. Based on an average trading volume of 49,031,940 shares, the days-to-cover ratio is currently 2.2 days. Currently, 12.1% of the shares of the stock are sold short.

A number of research analysts have issued reports on the company. Raymond James Financial Inc. cut Weatherford International from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $7.00 to $6.50 in a report on Wednesday, November 2nd. Seaport Global Securities reaffirmed a “buy” rating on shares of Weatherford International in a report on Friday, August 19th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $7.00 price target on shares of Weatherford International in a report on Thursday, November 10th. Citigroup Inc. lifted their price target on Weatherford International from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday, September 12th. Finally, Howard Weil cut their price target on Weatherford International from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Thursday, October 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $8.27.

In other Weatherford International news, VP Douglas M. Mills sold 12,500 shares of Weatherford International stock in a transaction on Friday, October 7th. The stock was sold at an average price of $5.97, for a total transaction of $74,625.00. Following the completion of the transaction, the vice president now directly owns 223,933 shares of the company’s stock, valued at $1,336,880.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Weatherford International by 5.4% in the second quarter. Vanguard Group Inc. now owns 68,298,516 shares of the company’s stock valued at $379,057,000 after buying an additional 3,504,828 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Weatherford International by 8.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 22,982,502 shares of the company’s stock valued at $127,553,000 after buying an additional 1,720,016 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Weatherford International by 27.0% in the second quarter. Wedge Capital Management L L P NC now owns 14,783,032 shares of the company’s stock valued at $82,046,000 after buying an additional 3,142,666 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Weatherford International by 4.1% in the second quarter. BlackRock Fund Advisors now owns 11,136,599 shares of the company’s stock valued at $61,808,000 after buying an additional 441,320 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in Weatherford International by 6.0% in the second quarter. Gamco Investors INC. ET AL now owns 8,530,345 shares of the company’s stock valued at $47,343,000 after buying an additional 483,445 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Shares of Weatherford International (NYSE:WFT) opened at 4.32 on Wednesday. The stock’s 50 day moving average price is $5.21 and its 200-day moving average price is $5.61. Weatherford International has a 52 week low of $3.73 and a 52 week high of $11.14. The company’s market cap is $3.88 billion.

Weatherford International (NYSE:WFT) last released its 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. Weatherford International had a negative return on equity of 24.19% and a negative net margin of 63.74%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down 39.4% on a year-over-year basis. Analysts expect that Weatherford International will post ($1.28) EPS for the current year.

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About Weatherford International

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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