Stock On Watch: What’s Next for Weatherford International Plc After Today’s Huge Increase?

Stock On Watch: What's Next for Weatherford International Plc After Today's Huge Increase?

The stock of Weatherford International Plc (NYSE:WFT) is a huge mover today! About 13.91 million shares traded hands. Weatherford International Plc (NYSE:WFT) has declined 32.24% since April 13, 2016 and is downtrending. It has underperformed by 36.16% the S&P500.
The move comes after 8 months positive chart setup for the $4.43 billion company. It was reported on Nov, 15 by Barchart.com. We have $7.46 PT which if reached, will make NYSE:WFT worth $1.90B more.

Weatherford International Plc (NYSE:WFT) Ratings Coverage

Out of 22 analysts covering Weatherford International Ltd. (NYSE:WFT), 18 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 82% are positive. Weatherford International Ltd. has been the topic of 57 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Oppenheimer maintained Weatherford International Plc (NYSE:WFT) rating on Thursday, October 1. Oppenheimer has “Outperform” rating and $14 price target. The rating was maintained by Howard Weil on Thursday, October 27 with “Sector Perform”. Oppenheimer maintained it with “Outperform” rating and $13 target price in Monday, October 26 report. The stock has “Overweight” rating given by Piper Jaffray on Friday, June 3. The company was maintained on Friday, July 24 by Oppenheimer. The company was downgraded on Wednesday, November 2 by Raymond James. Cowen & Co maintained Weatherford International Plc (NYSE:WFT) on Friday, February 5 with “Outperform” rating. On Wednesday, October 5 the stock rating was maintained by Citigroup with “Buy”. Susquehanna upgraded the shares of WFT in a report on Tuesday, October 27 to “Positive” rating. The rating was initiated by DA Davidson on Friday, February 19 with “Buy”.

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 Q2 2016. Its down 0.05, from 1.34 in 2016Q1. The ratio dived, 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.
Mackenzie Corp holds 0% of its portfolio in Weatherford International Plc (NYSE:WFT) for 32,058 shares. Eagle Asset Inc, a Florida-based fund reported 331,338 shares. Moreover, Nj State Employees Deferred Compensation Plan has 0.02% invested in Weatherford International Plc (NYSE:WFT) for 20,000 shares. Commonwealth Commercial Bank Of Aus has 8,200 shares for 0% of their US portfolio. Axa reported 50,496 shares or 0% of all its holdings. Profund Advisors Llc accumulated 84,125 shares or 0.02% of the stock. Td Asset Management Inc holds 58,762 shares or 0% of its portfolio. Nationwide Fund Advisors holds 1.44 million shares or 0.03% of its portfolio. Guggenheim Capital Limited Com accumulated 0.01% or 615,826 shares. Pine River Capital Mgmt Lp has invested 0.11% of its portfolio in Weatherford International Plc (NYSE:WFT). Moreover, Alliancebernstein L P has 0% invested in Weatherford International Plc (NYSE:WFT) for 622,785 shares. The Tennessee-based Barnett & has invested 0.03% in Weatherford International Plc (NYSE:WFT). Dimensional Fund Advsr Ltd Partnership accumulated 7.20M shares or 0.02% of the stock. Shinko Asset Limited last reported 2,157 shares in the company. Tiaa Cref Mngmt Lc holds 0.02% or 5.19M shares in its portfolio.

More 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 Foxbusiness.com published the news titled: “Weatherford International CEO Bernard Duroc-Danner leaves” on November 09, 2016. Seekingalpha.com‘s news article titled: “Weatherford International Plc (WFT) Q3 2016 Results – Earnings Call Transcript” with publication date: October 26, 2016 was also an interesting one.

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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