Weatherford International (NASDAQ:WFRD) Shares Gap Down to $21.45

Weatherford International plc (NASDAQ:WFRDGet Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $21.45, but opened at $20.14. Weatherford International shares last traded at $20.06, with a volume of 479 shares.

WFRD has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Weatherford International in a research note on Wednesday, June 8th. They issued a “buy” rating and a $43.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Weatherford International in a research note on Wednesday, June 8th. They issued a “buy” rating and a $49.00 target price on the stock.

The stock has a market capitalization of $1.37 billion and a P/E ratio of -3.29. The company has a quick ratio of 1.70, a current ratio of 2.22 and a debt-to-equity ratio of 5.67. The business has a fifty day moving average price of $30.06 and a 200-day moving average price of $31.18.

Weatherford International (NASDAQ:WFRDGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). The business had revenue of $938.00 million for the quarter, compared to the consensus estimate of $933.00 million. Weatherford International had a negative net margin of 11.04% and a negative return on equity of 36.94%. On average, equities analysts expect that Weatherford International plc will post -1.37 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in Weatherford International by 3.9% in the third quarter. Goldman Sachs Group Inc. now owns 15,625 shares of the company’s stock valued at $307,000 after acquiring an additional 585 shares during the period. Dimensional Fund Advisors LP bought a new position in Weatherford International in the third quarter valued at about $2,704,000. Two Sigma Advisers LP bought a new position in Weatherford International in the third quarter valued at about $1,273,000. Cutler Group LP bought a new position in Weatherford International in the fourth quarter valued at about $893,000. Finally, Qube Research & Technologies Ltd lifted its holdings in Weatherford International by 433.3% in the fourth quarter. Qube Research & Technologies Ltd now owns 122,619 shares of the company’s stock valued at $3,399,000 after acquiring an additional 99,625 shares during the period. 93.07% of the stock is currently owned by hedge funds and other institutional investors.

About Weatherford International (NASDAQ:WFRD)

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing, cementing, and coiled-tubing intervention; and drill stem test tools, surface well testing, and multiphase flow measurement services.

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