Weatherford International (WFT) Bonds Rise 2.2% During Trading

An issue of Weatherford International plc (NYSE:WFT) debt rose 2.2% as a percentage of its face value during trading on Thursday. The high-yield issue of debt has a 7.75% coupon and is set to mature on June 15, 2021. The debt is now trading at $84.50 and was trading at $79.75 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its share price.

WFT has been the topic of several recent research reports. Raymond James set a $3.00 price objective on shares of Weatherford International and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Guggenheim cut shares of Weatherford International from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 31st. Morgan Stanley initiated coverage on shares of Weatherford International in a research note on Tuesday, September 18th. They issued an “equal weight” rating and a $4.00 price objective on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $2.50 price objective on shares of Weatherford International in a research note on Wednesday, October 31st. Finally, Citigroup cut shares of Weatherford International from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $3.50 to $1.00 in a research note on Tuesday, October 30th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $3.50.

Weatherford International stock opened at $0.53 on Friday. The company has a market capitalization of $550.51 million, a PE ratio of -0.46 and a beta of 2.75. Weatherford International plc has a fifty-two week low of $0.50 and a fifty-two week high of $4.41.



Weatherford International (NYSE:WFT) last released its earnings results on Monday, October 29th. The oil and gas company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.52 billion. Weatherford International had a negative net margin of 45.58% and a negative return on equity of 283.53%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.22) earnings per share. As a group, research analysts predict that Weatherford International plc will post -0.57 EPS for the current year.

In other news, Director Angela A. Minas bought 40,000 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were acquired at an average cost of $2.45 per share, with a total value of $98,000.00. Following the completion of the transaction, the director now directly owns 102,711 shares in the company, valued at approximately $251,641.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.44% of the company’s stock.

Several hedge funds have recently bought and sold shares of WFT. First Trust Advisors LP acquired a new stake in shares of Weatherford International during the second quarter worth approximately $119,000. State of Wisconsin Investment Board boosted its holdings in shares of Weatherford International by 8.7% during the second quarter. State of Wisconsin Investment Board now owns 227,818 shares of the oil and gas company’s stock worth $750,000 after purchasing an additional 18,246 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of Weatherford International by 51.3% during the second quarter. Wedbush Securities Inc. now owns 59,786 shares of the oil and gas company’s stock worth $197,000 after purchasing an additional 20,272 shares during the period. Rhumbline Advisers boosted its holdings in shares of Weatherford International by 7.8% during the second quarter. Rhumbline Advisers now owns 881,213 shares of the oil and gas company’s stock worth $2,899,000 after purchasing an additional 63,780 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Weatherford International by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 4,245,369 shares of the oil and gas company’s stock worth $13,967,000 after purchasing an additional 89,037 shares during the period.

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Weatherford International Company Profile (NYSE:WFT)

Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.

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