Millennium Management LLC Sells 17,312,562 Shares of Weatherford International plc (WFT)

Millennium Management LLC lessened its holdings in Weatherford International plc (NYSE:WFT) by 80.6% during the 4th quarter, Holdings Channel reports. The firm owned 4,167,085 shares of the oil and gas company’s stock after selling 17,312,562 shares during the period. Millennium Management LLC’s holdings in Weatherford International were worth $2,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of WFT. Vanguard Group Inc raised its position in shares of Weatherford International by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 85,521,323 shares of the oil and gas company’s stock valued at $231,762,000 after acquiring an additional 947,228 shares during the period. Poplar Forest Capital LLC raised its position in shares of Weatherford International by 40.5% in the 4th quarter. Poplar Forest Capital LLC now owns 13,676,153 shares of the oil and gas company’s stock valued at $7,645,000 after acquiring an additional 3,942,194 shares during the period. Prescott Group Capital Management L.L.C. raised its position in shares of Weatherford International by 504.5% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 11,243,492 shares of the oil and gas company’s stock valued at $6,285,000 after acquiring an additional 9,383,492 shares during the period. Vanguard Group Inc. raised its position in shares of Weatherford International by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 85,521,323 shares of the oil and gas company’s stock valued at $231,762,000 after acquiring an additional 947,228 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Weatherford International by 137.5% in the 4th quarter. Hsbc Holdings PLC now owns 1,602,652 shares of the oil and gas company’s stock valued at $895,000 after acquiring an additional 927,824 shares during the period. 86.27% of the stock is currently owned by institutional investors.

Shares of WFT stock opened at $0.63 on Wednesday. The company has a market cap of $625.58 million, a price-to-earnings ratio of -1.07 and a beta of 2.22. Weatherford International plc has a 52 week low of $0.22 and a 52 week high of $3.75.

Weatherford International (NYSE:WFT) last announced its earnings results on Friday, February 1st. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the business earned ($0.33) EPS. Equities analysts anticipate that Weatherford International plc will post -0.37 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Weatherford International from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. Credit Suisse Group reiterated a “buy” rating and issued a $1.00 price target on shares of Weatherford International in a research report on Sunday, February 3rd. Capital One Financial downgraded shares of Weatherford International from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 16th. BMO Capital Markets downgraded shares of Weatherford International from an “outperform” rating to a “market perform” rating and cut their price target for the company from $2.50 to $1.00 in a research report on Wednesday, January 9th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Weatherford International in a research report on Sunday, January 6th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Weatherford International currently has a consensus rating of “Hold” and an average price target of $1.63.

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Weatherford International Profile

Weatherford International plc, an oilfield service company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil 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 and fluid systems, cementing, and coiled-tubing intervention; and drill stem test tools, and surface well testing and multiphase flow measurement services.

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

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