Mitchell Group Inc. boosted its stake in shares of Weatherford International PLC (NYSE:WFT) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,280,933 shares of the oil and gas company’s stock after buying an additional 101,620 shares during the period. Weatherford International PLC makes up 3.2% of Mitchell Group Inc.’s portfolio, making the stock its 20th largest position. Mitchell Group Inc. owned 0.53% of Weatherford International PLC worth $20,437,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in WFT. Wedge Capital Management L L P NC increased its stake in shares of Weatherford International PLC by 71.9% in the second quarter. Wedge Capital Management L L P NC now owns 29,156,413 shares of the oil and gas company’s stock valued at $112,835,000 after buying an additional 12,194,205 shares during the period. OppenheimerFunds Inc. purchased a new stake in shares of Weatherford International PLC during the first quarter valued at approximately $46,680,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Weatherford International PLC during the first quarter valued at approximately $45,594,000. Renaissance Technologies LLC purchased a new stake in shares of Weatherford International PLC during the first quarter valued at approximately $42,887,000. Finally, State Street Corp increased its stake in shares of Weatherford International PLC by 10.4% in the first quarter. State Street Corp now owns 48,956,761 shares of the oil and gas company’s stock valued at $325,562,000 after buying an additional 4,621,797 shares during the period.

Weatherford International PLC (NYSE WFT) traded up 4.70% during midday trading on Friday, reaching $4.01. 13,066,194 shares of the company’s stock were exchanged. Weatherford International PLC has a 52 week low of $3.39 and a 52 week high of $7.09. The firm’s market capitalization is $3.97 billion. The firm’s 50 day moving average is $4.13 and its 200 day moving average is $5.01. Weatherford International PLC also was the target of unusually large options trading on Wednesday. Stock traders bought 11,882 call options on the stock. This represents an increase of approximately 554% compared to the typical daily volume of 1,816 call options.

Weatherford International PLC (NYSE:WFT) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported ($0.28) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm posted ($0.28) EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Weatherford International PLC will post ($1.03) earnings per share for the current year.

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WFT has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $6.00 price objective (down from $12.00) on shares of Weatherford International PLC in a research report on Wednesday, June 21st. Sanford C. Bernstein downgraded shares of Weatherford International PLC from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $7.00 to $5.00 in a research report on Thursday, July 6th. Deutsche Bank AG reissued a “buy” rating and set a $7.00 price objective (down from $8.00) on shares of Weatherford International PLC in a research report on Tuesday, May 30th. Scotiabank reissued a “buy” rating on shares of Weatherford International PLC in a research report on Tuesday. Finally, UBS AG reissued a “buy” rating and set a $6.00 price objective (down from $8.00) on shares of Weatherford International PLC in a research report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Weatherford International PLC presently has a consensus rating of “Buy” and a consensus price target of $6.39.

Weatherford International PLC 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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Institutional Ownership by Quarter for Weatherford International PLC (NYSE:WFT)

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