The stock of Weatherford International Plc (NYSE:WFT) hit a new 52-week low and has $3.56 target or 8.00% below today’s $3.87 share price. The 5 months bearish chart indicates high risk for the $4.03 billion company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $3.56 price target is reached, the company will be worth $322.40 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 50.48M shares traded hands or 79.26% up from the average. Weatherford International Plc (NYSE:WFT) has declined 42.29% since March 31, 2016 and is downtrending. It has underperformed by 44.81% the S&P500.
Weatherford International Plc (NYSE:WFT) Ratings Coverage
Out of 21 analysts covering Weatherford International Ltd. (NYSE:WFT), 17 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 81% are positive. Weatherford International Ltd. has been the topic of 56 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by Oppenheimer with “Outperform” on Monday, October 26. The stock has “Equal-Weight” rating given by Stephens on Thursday, December 3. The firm earned “Buy” rating on Tuesday, August 2 by Jefferies. Barclays Capital upgraded it to “Overweight” rating and $8 target price in Monday, June 6 report. As per Monday, July 27, the company rating was upgraded by Barclays Capital. Howard Weil maintained the stock with “Sector Perform” rating in Friday, February 5 report. The firm has “Outperform” rating given on Monday, January 11 by Wells Fargo. Howard Weil maintained Weatherford International Plc (NYSE:WFT) rating on Friday, May 6. Howard Weil has “Sector Perform” rating and $8 price target. Cowen & Co maintained Weatherford International Plc (NYSE:WFT) rating on Friday, February 5. Cowen & Co has “Outperform” rating and $9 price target. TD Securities upgraded the shares of WFT in a report on Friday, September 11 to “Buy” rating.
According to Zacks Investment Research, “Weatherford International is one of the world’s leading providers of equipment and services used for the drilling, completion and production of oil and natural gas wells. Its operations are conducted in numerous countries and it has service and sales locations in substantially all of the oil and natural gas producing regions in the world. The company’s products and services are divided into the following four principal operating divisions: Drilling and Intervention Services; Completion Systems; Artificial Lift Systems; and Compression Services.”
Insitutional Activity: The institutional sentiment decreased to 1.29 in 2016 Q2. Its down 0.05, from 1.34 in 2016Q1. The ratio worsened, as 61 funds sold all Weatherford International Plc shares owned while 78 reduced positions. 55 funds bought stakes while 124 increased positions. They now own 687.46 million shares or 3.50% less from 712.38 million shares in 2016Q1.
The Switzerland-based Swiss Savings Bank has invested 0.02% in Weatherford International Plc (NYSE:WFT). Raymond James Fin Advisors holds 0.01% or 149,898 shares in its portfolio. Security National accumulated 0% or 1,100 shares. Investec Asset Limited holds 2.57M shares or 0.07% of its portfolio. Caisse De Depot Et Placement Du Quebec holds 0.02% or 1.06M shares in its portfolio. Goldman Sachs Gp Inc holds 4.78M shares or 0.01% of its portfolio. Moreover, Amalgamated Savings Bank has 0.03% invested in Weatherford International Plc (NYSE:WFT) for 107,965 shares. Blackrock Llc holds 1.71 million shares or 0.01% of its portfolio. Finance Architects holds 0.01% or 4,700 shares in its portfolio. Mitsubishi Ufj Tru And Bk Corp accumulated 1.84M shares or 0.02% of the stock. The Texas-based Qcm Cayman has invested 0.1% in Weatherford International Plc (NYSE:WFT). Moreover, Timber Hill Ltd has 0.01% invested in Weatherford International Plc (NYSE:WFT) for 262,648 shares. Hightower Advsr Ltd holds 0% or 27,183 shares in its portfolio. Blackrock Group last reported 5.74M shares in the company. Principal Financial Group owns 114,526 shares or 0% of their US portfolio.
More notable recent Weatherford International Plc (NYSE:WFT) news were published by: Fool.com which released: “Here’s Why Weatherford International Plc’s Stock Plunged Today” on November 01, 2016, also Investorplace.com with their article: “Weatherford International Plc (WFT) Stock Gutted After Huge Q3 Loss” published on October 26, 2016, Seekingalpha.com published: “Weatherford International Plc (WFT) Q3 2016 Results – Earnings Call Transcript” on October 26, 2016. More interesting news about Weatherford International Plc (NYSE:WFT) were released by: Forbes.com and their article: “Oversold Conditions For Weatherford International (WFT)” published on November 01, 2016 as well as Schaeffersresearch.com‘s news article titled: “Analyst Update: Twilio Inc, Weatherford International Plc, and Integrated …” with publication date: November 01, 2016.
WFT Company Profile
Weatherford International plc, incorporated on March 3, 2014, is an oilfield service company. The Firm provides equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Firm operates through five divisions: North America, Latin America, Europe/Sub-Sahara Africa (SSA)/Russia, Middle East/North Africa (MENA)/Asia Pacific and Land Drilling Rigs. The Firm offers products through three business groups: Formation Evaluation and Well Construction, Completion and Production, and Land Drilling Rigs, which together include approximately 14 product lines. Formation Evaluation and Well Construction includes Managed-Pressure Drilling, Drilling Services, Tubular Running Services, Drilling Tools, Wireline Services, Testing and Production Services, Re-entry and Fishing Services, Cementing, Liner Systems, Integrated Laboratory Services and Surface Logging Systems. Completion and Production includes Artificial Lift Systems, Stimulation and Completion Systems. Land Drilling Rigs encompasses land drilling rigs business, including the services and products ancillary thereto.
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