Weatherford global Plc (NYSE:WFT) Does an About Turn on Public Offering

The company’s stock had a trading volume of 16,202,426 shares. The company has a market cap of $6,891 million and there are 776,885,000 shares in outstanding.

Krishna Shivram, CFO of Weatherford global Plc purchased 33,750 shares on September 23, 2015.

“We think $50 per barrel is too low an oil price for medium or long-term equilibrium”, Paul Horsnell, head of oil research at Standard Chartered, said in a report. The 1-year stock price history is in the range of $7.21 – $21.69. In a statement by the brokerage house, TD Securities upgrades its outlook on Weatherford global plc (NYSE:WFT). The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. During the same quarter a year ago, the business earned $0.24 EPS.

Weatherford finished the second quarter of fiscal year 2015 (2QFY15, ended June 30, 2015) with a $611.3 million cash balance. Finally, TheStreet cut shares of Weatherford global Plc from a “hold” rating to a “sell” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. began coverage on Weatherford global Plc in a research report on Friday, May 29th. Also, Director David J. Butters sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 10th.

Weatherford global plc (NYSE:WFT): On Tuesday heightened volatility was witnessed in Weatherford worldwide plc (NYSE:WFT) which led to swings in the share price. Griffin Securities initiated coverage on Weatherford worldwide Plc in a research report on Tuesday, July 7th. Citigroup Inc. reaffirmed a “hold” rating and issued a $13.00 price target (down from $15.00) on shares of Weatherford worldwide Plc in a report on Wednesday, July 8th. The rally in the stock was on the back of news that the company had decided not to pursue the previously announced concurrent public offering which is being seen as a huge positive by investors and analysts on the street. As per the latest data, 1 analysts has given a sell rating on the shares of the company. They issued an “overweight” rating and a $19.00 price objective on the stock. The stock has a 50-day moving average of $9.73 and a 200-day moving average of $12.17. Following the completion of the sale, the director now owns 252,354 shares in the company, valued at $2,521,016.46.

Schlumberger N.V. (Schlumberger) is the supplier of technology, integrated project management and information solutions to the worldwide oil and gas exploration and production industry. The Business manages four sections: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.