Weatherford International PLC (NYSE:WFT) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 11,882 call options on the company. This is an increase of approximately 554% compared to the average volume of 1,816 call options.

Hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui Asset Management Company LTD increased its position in Weatherford International PLC by 13.5% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,982 shares of the oil and gas company’s stock worth $106,000 after purchasing an additional 1,899 shares in the last quarter. Laurion Capital Management LP purchased a new stake in Weatherford International PLC during the 1st quarter worth about $109,000. Two Sigma Securities LLC increased its position in Weatherford International PLC by 14.5% during the 1st quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock worth $117,000 after purchasing an additional 2,238 shares in the last quarter. Verity Asset Management Inc. purchased a new stake in Weatherford International PLC during the 1st quarter worth about $129,000. Finally, Driehaus Capital Management LLC purchased a new stake in Weatherford International PLC during the 1st quarter worth about $129,000.

A number of research firms recently commented on WFT. Royal Bank Of Canada reiterated a “buy” rating and issued a $8.00 target price on shares of Weatherford International PLC in a research note on Friday, May 19th. Deutsche Bank AG reiterated a “buy” rating and issued a $7.00 target price (down from $8.00) on shares of Weatherford International PLC in a research note on Tuesday, May 30th. Jefferies Group LLC set a $6.00 target price on shares of Weatherford International PLC and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Zacks Investment Research upgraded shares of Weatherford International PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets lifted their target price on shares of Weatherford International PLC from $4.75 to $5.50 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Weatherford International PLC has a consensus rating of “Buy” and a consensus target price of $6.39.

Weatherford International PLC (NYSE WFT) opened at 4.01 on Monday. Weatherford International PLC has a 1-year low of $3.39 and a 1-year high of $7.09. The company has a 50 day moving average of $4.13 and a 200 day moving average of $5.01. The firm’s market capitalization is $3.97 billion.

Weatherford International PLC (NYSE:WFT) last released its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) EPS for the quarter, meeting analysts’ consensus estimates of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned ($0.28) earnings per share. Weatherford International PLC’s quarterly revenue was down 2.8% compared to the same quarter last year. Analysts forecast that Weatherford International PLC will post ($1.03) EPS for the current year.

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About Weatherford International PLC

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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