An issue of Weatherford International plc (NYSE:WFT) debt fell 2.8% against its face value during trading on Friday. The high-yield issue of debt has a 9.875% coupon and is set to mature on March 1, 2025. The debt is now trading at $97.75 and was trading at $100.75 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
A number of research analysts have recently commented on WFT shares. ValuEngine raised shares of Weatherford International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Jefferies Financial Group set a $4.00 price objective on shares of Weatherford International and gave the company a “hold” rating in a research note on Monday, July 30th. Piper Jaffray Companies set a $2.00 price objective on shares of Weatherford International and gave the company a “hold” rating in a research note on Sunday, July 29th. Zacks Investment Research raised shares of Weatherford International from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, BMO Capital Markets set a $4.00 price objective on shares of Weatherford International and gave the company a “buy” rating in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $4.67.
NYSE WFT traded down $0.07 on Friday, reaching $2.95. The company had a trading volume of 17,700,303 shares, compared to its average volume of 13,122,162. Weatherford International plc has a 1 year low of $2.07 and a 1 year high of $4.72. The company has a debt-to-equity ratio of -8.51, a quick ratio of 1.14 and a current ratio of 1.73.
Weatherford International (NYSE:WFT) last released its quarterly earnings results on Friday, July 27th. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.02. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Weatherford International had a negative return on equity of 283.53% and a negative net margin of 46.44%. Weatherford International’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.28) EPS. sell-side analysts forecast that Weatherford International plc will post -0.56 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP acquired a new stake in Weatherford International during the 2nd quarter worth about $119,000. GSA Capital Partners LLP purchased a new stake in shares of Weatherford International during the 2nd quarter worth about $158,000. Quantbot Technologies LP purchased a new stake in shares of Weatherford International during the 1st quarter worth about $159,000. Crawford Investment Counsel Inc. raised its stake in shares of Weatherford International by 109.9% during the 1st quarter. Crawford Investment Counsel Inc. now owns 77,247 shares of the oil and gas company’s stock worth $177,000 after purchasing an additional 40,450 shares in the last quarter. Finally, Icon Wealth Partners LLC raised its stake in shares of Weatherford International by 25.3% during the 1st quarter. Icon Wealth Partners LLC now owns 79,927 shares of the oil and gas company’s stock worth $183,000 after purchasing an additional 16,156 shares in the last quarter.
Weatherford International Company Profile
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.
Featured Story: Trading Penny Stocks
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.