An issue of Weatherford International plc (NYSE:WFT) debt rose 2.2% against 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 bonds in the issue are now trading at $84.50 and were trading at $79.75 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.

Several research analysts have recently weighed in on WFT shares. Wolfe Research started coverage on Weatherford International in a research report on Wednesday, October 10th. They set a “peer perform” rating for the company. Tudor Pickering raised Weatherford International from a “sell” rating to a “buy” rating in a research report on Monday, August 20th. Bank of America started coverage on Weatherford International in a research report on Wednesday, October 17th. They set an “underperform” rating for the company. Societe Generale cut Weatherford International from a “buy” rating to a “sell” rating and set a $2.00 price objective for the company. in a research report on Friday, October 12th. Finally, Morgan Stanley started coverage on Weatherford International in a research report on Tuesday, September 18th. They set an “equal weight” rating and a $4.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $3.50.

NYSE:WFT traded down $0.01 on Friday, hitting $0.52. The company’s stock had a trading volume of 34,303,529 shares, compared to its average volume of 27,949,398. The firm has a market capitalization of $530.49 million, a price-to-earnings ratio of -0.45 and a beta of 2.75. Weatherford International plc has a one year low of $0.50 and a one year high of $4.41.

Weatherford International (NYSE:WFT) last released its quarterly earnings data on Monday, October 29th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.52 billion. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 45.58%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.22) earnings per share. On average, equities research analysts forecast that Weatherford International plc will post -0.57 earnings per share for the current fiscal year.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Weatherford International by 1.1% during the third quarter. Vanguard Group Inc. now owns 85,521,323 shares of the oil and gas company’s stock worth $231,762,000 after purchasing an additional 947,228 shares during the period. Wedge Capital Management L L P NC grew its position in Weatherford International by 5.6% during the third quarter. Wedge Capital Management L L P NC now owns 34,487,196 shares of the oil and gas company’s stock worth $93,460,000 after buying an additional 1,829,806 shares in the last quarter. Scopia Capital Management LP grew its position in Weatherford International by 16.3% during the third quarter. Scopia Capital Management LP now owns 31,019,881 shares of the oil and gas company’s stock worth $84,064,000 after buying an additional 4,340,119 shares in the last quarter. Perella Weinberg Partners Capital Management LP grew its position in Weatherford International by 8.6% during the third quarter. Perella Weinberg Partners Capital Management LP now owns 23,255,018 shares of the oil and gas company’s stock worth $63,021,000 after buying an additional 1,835,110 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Weatherford International by 82.7% during the third quarter. Mackenzie Financial Corp now owns 17,202,004 shares of the oil and gas company’s stock worth $46,617,000 after buying an additional 7,788,965 shares in the last quarter.

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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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