459,181 Shares in Weatherford International plc (NYSE:WFT) Purchased by Paloma Partners Management Co

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Paloma Partners Management Co bought a new stake in Weatherford International plc (NYSE:WFT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 459,181 shares of the oil and gas company’s stock, valued at approximately $1,244,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Weatherford International by 37.8% during the second quarter. FMR LLC now owns 12,460,897 shares of the oil and gas company’s stock worth $40,996,000 after purchasing an additional 3,415,343 shares during the last quarter. Poplar Forest Capital LLC lifted its stake in Weatherford International by 38.7% during the third quarter. Poplar Forest Capital LLC now owns 9,733,959 shares of the oil and gas company’s stock worth $26,379,000 after purchasing an additional 2,713,638 shares during the last quarter. Perella Weinberg Partners Capital Management LP lifted its stake in Weatherford International by 8.6% during the third quarter. Perella Weinberg Partners Capital Management LP now owns 23,255,018 shares of the oil and gas company’s stock worth $63,021,000 after purchasing an additional 1,835,110 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Weatherford International by 5.6% during the third quarter. Wedge Capital Management L L P NC now owns 34,487,196 shares of the oil and gas company’s stock worth $93,460,000 after purchasing an additional 1,829,806 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. lifted its stake in Weatherford International by 1,191.7% during the third quarter. Prescott Group Capital Management L.L.C. now owns 1,860,000 shares of the oil and gas company’s stock worth $5,041,000 after purchasing an additional 1,716,000 shares during the last quarter.

WFT opened at $0.56 on Tuesday. The firm has a market cap of $403.67 million, a price-to-earnings ratio of -0.48 and a beta of 2.78. Weatherford International plc has a one year low of $0.22 and a one year high of $4.41.

Weatherford International (NYSE:WFT) last issued its quarterly earnings data on Monday, October 29th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.58%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business earned ($0.22) earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. As a group, equities analysts predict that Weatherford International plc will post -0.57 EPS for the current year.

Several research analysts have commented on the company. Wolfe Research assumed coverage on Weatherford International in a research report on Wednesday, October 10th. They set a “peer perform” rating on the stock. Bank of America assumed coverage on Weatherford International in a research report on Wednesday, October 17th. They set an “underperform” rating on the stock. Societe Generale lowered Weatherford International from a “buy” rating to a “sell” rating and set a $2.00 target price on the stock. in a report on Friday, October 12th. Morgan Stanley assumed coverage on Weatherford International in a report on Tuesday, September 18th. They issued an “equal weight” rating and a $4.00 target price on the stock. Finally, Stifel Nicolaus assumed coverage on Weatherford International in a report on Monday, September 10th. They issued a “hold” rating and a $3.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.19.

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Weatherford International Company Profile

Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.

459,181 Shares in Weatherford International plc (NYSE:WFT) Purchased by Paloma Partners Management Co

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