Weatherford International (WFT) Bond Prices Rise 1.7%

An issue of Weatherford International PLC (NYSE:WFT) debt rose 1.7% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 9.625% coupon and is set to mature on March 1, 2019. The bonds in the issue are now trading at $106.88. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

WFT has been the subject of a number of research analyst reports. Morgan Stanley dropped their target price on shares of Weatherford International from $5.50 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Sanford C. Bernstein raised shares of Weatherford International from a “market perform” rating to an “outperform” rating in a research note on Friday, November 3rd. Scotiabank reaffirmed a “buy” rating on shares of Weatherford International in a research note on Tuesday, August 29th. Citigroup downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and set a $4.20 target price for the company. in a research note on Monday, November 6th. Finally, ValuEngine downgraded shares of Weatherford International from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Weatherford International presently has an average rating of “Buy” and a consensus price target of $6.07.

Shares of Weatherford International PLC (WFT) opened at $3.49 on Friday. Weatherford International PLC has a 1 year low of $3.08 and a 1 year high of $7.09. The company has a debt-to-equity ratio of 5.44, a quick ratio of 1.33 and a current ratio of 2.04.

Weatherford International (NYSE:WFT) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. Weatherford International had a negative net margin of 25.36% and a negative return on equity of 67.44%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company earned ($0.39) EPS. Weatherford International’s revenue was up 7.1% on a year-over-year basis. equities analysts expect that Weatherford International PLC will post -1.02 earnings per share for the current fiscal year.

In other news, VP Douglas M. Mills sold 17,500 shares of Weatherford International stock in a transaction that occurred on Friday, September 15th. The shares were 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 approximately $1,236,523.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.16% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of WFT. Quantitative Systematic Strategies LLC acquired a new position in Weatherford International during the third quarter valued at approximately $123,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in Weatherford International 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 purchasing an additional 500 shares during the period. Crawford Investment Counsel Inc. grew its holdings in Weatherford International by 68.8% during the second quarter. Crawford Investment Counsel Inc. now owns 36,797 shares of the oil and gas company’s stock valued at $142,000 after purchasing an additional 15,000 shares during the period. Private Advisor Group LLC grew its holdings in Weatherford International by 63.2% during the second quarter. Private Advisor Group LLC now owns 39,207 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 15,178 shares during the period. Finally, First Mercantile Trust Co. grew its holdings in Weatherford International by 262.4% during the second quarter. First Mercantile Trust Co. now owns 39,500 shares of the oil and gas company’s stock valued at $153,000 after purchasing an additional 28,600 shares during the period.

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Weatherford International Company Profile

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