An issue of Weatherford International (NYSE:WFT) debt rose 1.4% against its face value during trading on Monday. The high-yield issue of debt has a 5.95% coupon and will mature on April 15, 2042. The bonds in the issue are now trading at $69.50 and were trading at $68.00 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.
A number of research firms have commented on WFT. Susquehanna Bancshares set a $4.00 price target on shares of Weatherford International and gave the company a “buy” rating in a research report on Monday. Jefferies Group lowered shares of Weatherford International from a “buy” rating to a “neutral” rating and reduced their price target for the company from $6.86 to $2.08 in a research report on Tuesday, April 3rd. Piper Jaffray lowered shares of Weatherford International from an “overweight” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research report on Tuesday, April 3rd. Zacks Investment Research lowered shares of Weatherford International from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Finally, Credit Suisse Group set a $6.00 target price on shares of Weatherford International and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $4.97.
Shares of WFT remained flat at $$2.35 during trading hours on Monday. 12,420,865 shares of the stock traded hands, compared to its average volume of 23,672,045. The company has a market capitalization of $2,335.00, a price-to-earnings ratio of -2.03 and a beta of 2.34. Weatherford International has a 52 week low of $2.07 and a 52 week high of $6.59. The company has a debt-to-equity ratio of -13.21, a current ratio of 1.74 and a quick ratio of 1.19.
Weatherford International (NYSE:WFT) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.12). Weatherford International had a negative net margin of 49.36% and a negative return on equity of 114.20%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company earned ($0.32) earnings per share. Weatherford International’s revenue for the quarter was up 6.0% compared to the same quarter last year. sell-side analysts expect that Weatherford International will post -0.62 EPS for the current year.
In related news, VP Douglas M. Mills sold 6,072 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $4.24, for a total transaction of $25,745.28. Following the transaction, the vice president now directly owns 232,399 shares of the company’s stock, valued at $985,371.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Douglas M. Mills sold 17,931 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $4.34, for a total transaction of $77,820.54. Following the transaction, the vice president now directly owns 238,471 shares in the company, valued at $1,034,964.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,226 shares of company stock worth $165,523. 0.44% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in WFT. Wedge Capital Management L L P NC increased its holdings in Weatherford International by 13.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 31,579,597 shares of the oil and gas company’s stock valued at $131,687,000 after buying an additional 3,744,073 shares during the period. OppenheimerFunds Inc. increased its holdings in Weatherford International by 53.8% in the 4th quarter. OppenheimerFunds Inc. now owns 14,524,587 shares of the oil and gas company’s stock valued at $60,568,000 after buying an additional 5,083,495 shares during the period. Thrivent Financial For Lutherans increased its holdings in Weatherford International by 7.9% in the 4th quarter. Thrivent Financial For Lutherans now owns 14,341,730 shares of the oil and gas company’s stock valued at $59,805,000 after buying an additional 1,050,981 shares during the period. Geode Capital Management LLC increased its holdings in Weatherford International by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 8,656,567 shares of the oil and gas company’s stock valued at $36,097,000 after buying an additional 128,703 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Weatherford International by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,516,743 shares of the oil and gas company’s stock valued at $20,687,000 after buying an additional 94,485 shares during the period.
ILLEGAL ACTIVITY NOTICE: This report was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another publication, it was copied illegally and republished in violation of US and international trademark and copyright law. The original version of this report can be viewed at https://www.dispatchtribunal.com/2018/04/09/weatherford-international-wft-bond-prices-rise-1-4.html.
Weatherford International Company Profile
Weatherford International Plc provides equipment and services to the oil and natural gas exploration and production industry. It operates its business through the following business groups: Formation Evaluation & Well Construction, Completion & Production and Land Drilling Rigs. The Formation Evaluation & Well Construction business group offers services such as controlled-pressure drilling and testing, drilling, tubular running, drilling tools, integrated drilling, wireline services, re-entry and fishing, cementing, liner systems, integrated laboratory services and surface logging.
Receive News & Ratings for Weatherford International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weatherford International and related companies with MarketBeat.com's FREE daily email newsletter.