Weatherford International PLC (WFT) Bonds Trading 1.3% Higher

An issue of Weatherford International PLC (NYSE:WFT) debt rose 1.3% against its face value during trading on Wednesday. The high-yield debt issue has a 6.8% coupon and will mature on June 15, 2037. The bonds in the issue are now trading at $84.75. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.

A number of brokerages recently issued reports on WFT. Zacks Investment Research upgraded Weatherford International PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BMO Capital Markets increased their target price on Weatherford International PLC from $4.75 to $5.50 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Scotiabank set a $6.00 target price on Weatherford International PLC and gave the stock a “hold” rating in a report on Tuesday, August 1st. Credit Suisse Group reiterated a “buy” rating and issued a $6.00 target price on shares of Weatherford International PLC in a report on Tuesday, August 1st. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Weatherford International PLC in a report on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $6.18.

Shares of Weatherford International PLC (NYSE:WFT) traded up 1.090% on Friday, reaching $3.245. The company’s stock had a trading volume of 3,029,982 shares. The company’s market capitalization is $3.21 billion. The company’s 50-day moving average is $4.10 and its 200 day moving average is $4.45. Weatherford International PLC has a 12-month low of $3.16 and a 12-month high of $7.09.

Weatherford International PLC (NYSE:WFT) last released its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business posted ($0.28) earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. Equities analysts anticipate that Weatherford International PLC will post ($1.04) earnings per share for the current fiscal year.

In related news, VP Douglas M. Mills sold 17,500 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $4.43, for a total transaction of $77,525.00. Following the completion of the sale, the vice president now owns 279,125 shares in the company, valued at $1,236,523.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.16% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in Weatherford International PLC by 1.5% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 33,000 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 500 shares during the last quarter. Wedbush Securities Inc. boosted its stake in Weatherford International PLC by 2.3% during the second quarter. Wedbush Securities Inc. now owns 50,613 shares of the oil and gas company’s stock valued at $196,000 after buying an additional 1,146 shares during the last quarter. Two Sigma Securities LLC boosted its stake in Weatherford International PLC by 14.5% during the first quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 2,238 shares during the last quarter. Wrapmanager Inc. boosted its stake in Weatherford International PLC by 3.2% during the second quarter. Wrapmanager Inc. now owns 87,639 shares of the oil and gas company’s stock valued at $339,000 after buying an additional 2,754 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Weatherford International PLC by 8.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock valued at $215,000 after buying an additional 4,497 shares during the last quarter.

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Weatherford International PLC Company Profile

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