An issue of Weatherford International Ltd. (NYSE:WFT) debt rose 1.3% as a percentage of its face value during trading on Wednesday. The debt issue has a 6.5% coupon and is set to mature on August 1, 2036. The debt is now trading at $76.25. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

Several equities research analysts have recently weighed in on WFT shares. Vetr raised Weatherford International from a “buy” rating to a “strong-buy” rating and set a $6.95 target price for the company in a research report on Monday, June 20th. Imperial Capital initiated coverage on Weatherford International in a report on Friday, June 24th. They issued an “in-line” rating and a $7.00 price target for the company. Jefferies Group reissued a “buy” rating and issued a $8.00 price target on shares of Weatherford International in a report on Sunday, July 10th. Citigroup Inc. reissued a “buy” rating and issued a $8.00 price target on shares of Weatherford International in a report on Friday, July 15th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $9.00 price target on shares of Weatherford International in a report on Friday, July 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $8.83.

Shares of Weatherford International Ltd. (NYSE:WFT) opened at 5.97 on Thursday. Weatherford International Ltd. has a 1-year low of $4.71 and a 1-year high of $11.49. The stock’s 50 day moving average price is $5.72 and its 200 day moving average price is $6.13. The company’s market capitalization is $5.35 billion.

Weatherford International (NYSE:WFT) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.02. Weatherford International had a negative net margin of 33.73% and a negative return on equity of 13.41%. The firm earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the company posted ($0.10) EPS. Weatherford International’s revenue was down 41.3% on a year-over-year basis. Analysts expect that Weatherford International Ltd. will post $2.45 EPS for the current year.

In other Weatherford International news, VP Douglas M. Mills sold 12,500 shares of the company’s stock in a transaction on Friday, October 7th. The shares were sold at an average price of $5.97, for a total transaction of $74,625.00. Following the completion of the sale, the vice president now owns 223,933 shares in the company, valued at approximately $1,336,880.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Dodge & Cox boosted its stake in shares of Weatherford International by 9.0% in the first quarter. Dodge & Cox now owns 81,021,617 shares of the company’s stock valued at $630,348,000 after buying an additional 6,695,940 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Weatherford International by 5.4% in the second quarter. Vanguard Group Inc. now owns 68,298,516 shares of the company’s stock valued at $379,057,000 after buying an additional 3,504,828 shares during the last quarter. State Street Corp boosted its stake in shares of Weatherford International by 36.9% in the first quarter. State Street Corp now owns 26,567,174 shares of the company’s stock valued at $206,692,000 after buying an additional 7,166,608 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Weatherford International by 8.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 22,982,502 shares of the company’s stock valued at $127,553,000 after buying an additional 1,720,016 shares during the last quarter. Finally, Orbis Allan Gray Ltd acquired a new stake in shares of Weatherford International during the first quarter valued at approximately $130,340,000. Institutional investors own 97.21% of the company’s stock.

About Weatherford International

Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.

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