Weatherford International PLC (WFT) Stake Lifted by Schroder Investment Management Group

Schroder Investment Management Group increased its stake in Weatherford International PLC (NYSE:WFT) by 34.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,459,667 shares of the oil and gas company’s stock after acquiring an additional 633,313 shares during the period. Schroder Investment Management Group owned approximately 0.25% of Weatherford International PLC worth $9,470,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Freestone Capital Holdings LLC boosted its holdings in shares of Weatherford International PLC by 148.4% in the second quarter. Freestone Capital Holdings LLC now owns 114,654 shares of the oil and gas company’s stock valued at $444,000 after acquiring an additional 68,490 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Weatherford International PLC in the second quarter valued at approximately $320,000. Mitchell Group Inc. boosted its holdings in shares of Weatherford International PLC by 2.0% in the second quarter. Mitchell Group Inc. now owns 5,280,933 shares of the oil and gas company’s stock valued at $20,437,000 after acquiring an additional 101,620 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Weatherford International PLC by 83.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 330,944 shares of the oil and gas company’s stock valued at $1,281,000 after acquiring an additional 150,192 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Weatherford International PLC by 6.6% in the second quarter. Pinnacle Associates Ltd. now owns 400,870 shares of the oil and gas company’s stock valued at $1,551,000 after acquiring an additional 24,920 shares in the last quarter.

Several research analysts have recently issued reports on the stock. ValuEngine cut shares of Weatherford International PLC from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Scotiabank reissued a “buy” rating on shares of Weatherford International PLC in a research note on Tuesday, August 29th. BidaskClub lowered shares of Weatherford International PLC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Morgan Stanley cut their target price on shares of Weatherford International PLC from $6.00 to $5.50 and set an “overweight” rating for the company in a research note on Monday, August 7th. Finally, BMO Capital Markets increased their target price on shares of Weatherford International PLC from $4.75 to $5.50 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $6.39.

Weatherford International PLC (WFT) opened at 4.42 on Friday. The firm has a 50-day moving average of $4.09 and a 200 day moving average of $4.90. Weatherford International PLC has a 1-year low of $3.39 and a 1-year high of $7.09. The firm’s market cap is $4.37 billion.

Weatherford International PLC (NYSE:WFT) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.28). Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. Analysts expect that Weatherford International PLC will post ($1.03) earnings per share for the current fiscal year.

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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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