Weatherford International (NASDAQ:WFRD) Shares Gap Up to $24.06

Weatherford International plc (NASDAQ:WFRD) gapped up prior to trading on Thursday . The stock had previously closed at $24.06, but opened at $24.99. Weatherford International shares last traded at $24.84, with a volume of 3,452 shares trading hands.

The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.51. The stock’s 50 day simple moving average is $17.12.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Wednesday, July 28th. The company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.55) by $0.32. The firm had revenue of $903.00 million for the quarter, compared to analyst estimates of $841.00 million. On average, research analysts forecast that Weatherford International plc will post -5.07 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC purchased a new stake in shares of Weatherford International in the second quarter valued at about $27,000. Wells Fargo & Company MN purchased a new stake in shares of Weatherford International in the second quarter valued at about $32,000. Morgan Stanley purchased a new stake in shares of Weatherford International in the second quarter valued at about $102,000. SG Americas Securities LLC purchased a new stake in shares of Weatherford International in the second quarter valued at about $160,000. Finally, Northern Trust Corp purchased a new stake in shares of Weatherford International in the second quarter valued at about $269,000. 72.01% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Company Profile (NASDAQ:WFRD)

Weatherford International Plc provides equipment and services to the oil and natural gas exploration and production industry. It operates through two segments: Western Hemisphere and Eastern Hemisphere. The firm’s products and services are Drilling and Evaluation, Production, Completions, and Well Construction.

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