BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $1.66 Million Holdings in Weatherford International PLC (WFT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in Weatherford International PLC (NYSE:WFT) by 51.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 362,869 shares of the oil and gas company’s stock after selling 385,795 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Weatherford International were worth $1,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Weatherford International by 1.5% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 33,000 shares of the oil and gas company’s stock valued at $128,000 after acquiring an additional 500 shares during the last quarter. Wedbush Securities Inc. raised its holdings in Weatherford International by 2.3% in the 2nd quarter. Wedbush Securities Inc. now owns 50,613 shares of the oil and gas company’s stock valued at $196,000 after acquiring an additional 1,146 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Weatherford International by 8.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock worth $215,000 after buying an additional 4,497 shares during the last quarter. KLCM Advisors Inc. increased its holdings in shares of Weatherford International by 0.9% during the 2nd quarter. KLCM Advisors Inc. now owns 539,333 shares of the oil and gas company’s stock worth $2,087,000 after buying an additional 4,776 shares during the last quarter. Finally, Bluestein R H & Co. increased its holdings in shares of Weatherford International by 11.3% during the 2nd quarter. Bluestein R H & Co. now owns 50,100 shares of the oil and gas company’s stock worth $194,000 after buying an additional 5,100 shares during the last quarter.

A number of research firms have recently commented on WFT. Seaport Global Securities upgraded Weatherford International from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.00 to $5.00 in a report on Wednesday, November 1st. Societe Generale upgraded Weatherford International from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Cowen set a $8.00 price objective on Weatherford International and gave the stock a “buy” rating in a report on Friday, October 6th. Citigroup upped their price objective on Weatherford International from $5.30 to $5.60 and gave the stock a “buy” rating in a report on Thursday, October 5th. Finally, Royal Bank of Canada set a $6.00 price objective on Weatherford International and gave the stock a “buy” rating in a report on Sunday, October 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Weatherford International has an average rating of “Buy” and a consensus target price of $6.07.

Shares of Weatherford International PLC (NYSE WFT) traded up $0.01 during midday trading on Friday, reaching $3.36. The company had a trading volume of 38,310,335 shares, compared to its average volume of 20,823,608. Weatherford International PLC has a 52-week low of $3.08 and a 52-week high of $7.09. The company has a debt-to-equity ratio of 5.44, a current ratio of 2.04 and a quick ratio of 1.33.

Weatherford International (NYSE:WFT) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02. Weatherford International had a negative return on equity of 67.44% and a negative net margin of 25.36%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm earned ($0.39) EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. analysts forecast that Weatherford International PLC will post -1.02 earnings per share for the current year.

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Weatherford International Company Profile

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Institutional Ownership by Quarter for Weatherford International (NYSE:WFT)

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