(WFT) is down at $3.86 Weatherford Appoints Karl Blanchard as…


Weatherford International plc ( (NYSE:WFT):

Weatherford Appoints Karl Blanchard as Chief Operating Officer.

The company is so far trading down since yesterday’s close of $4.01.

Weatherford International public limited company, launched on March 3, 2014, is a multinational oilfield service company. The Company is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. Its segments include North America, Latin America, Europe/Sub-Sahara Africa (SSA)/Russia, Middle East/North Africa (MENA)/Asia Pacific and Land Drilling Rigs. Its principal business is providing equipment and services to the oil and natural gas exploration and production industry, both on land and offshore, through its three business groups: Formation Evaluation and Well Construction, Completion and Production, and Land Drilling Rigs. The Formation Evaluation and Well Construction business group includes various product lines, including managed-pressure drilling, drilling services, tubular running services, drilling tools and rental equipment, wireline services, testing and production services, re-entry and fishing services, cementing products, liner systems, reservoir solutions and surface logging systems. The Completion and Production business group includes various product lines, such as artificial lift systems, stimulation and completion systems. The Land Drilling Rigs business group encompasses its land drilling rigs business, including the products and services ancillary thereto. As of December 31, 2016, the Company conducted operations in approximately 90 countries, and had service and sales locations in various oil and natural gas producing regions in the world..

The stock last traded at $3.86 significantly lower than the 50 day moving average of $4.12 and which is quite a bit lower than the 200 day moving average of $5.14. The 50 day moving average moved down $-0.26 whereas the 200 day average was down by -24.95%.

As of the last earnings report the EPS was $-3.09 and is expected to be $-1.03 for the current year with 989,035,000 shares outstanding. Next quarter’s EPS is expected be $-0.19 with next year’s EPS anticipated to be $-0.45.

Ratings firms have provided guidance on WFT recently. On August 7 Morgan Stanley kept the company rating at “Overweight” and moved down the price target to $5.50 from $13.00. On July 6 the company was set at “Market Perform” according to a Bernstein report which is down from the previous “Outperform” rating.