An issue of Weatherford International Ltd. (NYSE:WFT) bonds rose 2.3% against their face value during trading on Friday. The high-yield issue of debt has a 7% coupon and will mature on March 15, 2038. The debt is now trading at $80.25 and was trading at $77.50 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

A number of brokerages recently commented on WFT. Jefferies Group reiterated a “buy” rating and set a $7.00 target price (down previously from $8.00) on shares of Weatherford International in a research note on Tuesday, August 2nd. Citigroup Inc. reduced their price target on shares of Weatherford International from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, July 29th. Scotiabank reissued a “sector perform” rating and issued a $7.00 price target (down from $8.00) on shares of Weatherford International in a research report on Thursday, October 27th. Howard Weil reduced their price target on shares of Weatherford International from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Thursday, October 27th. Finally, Nomura set a $10.00 price target on shares of Weatherford International and gave the company a “buy” rating in a research report on Tuesday, August 16th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $8.27.

Weatherford International Ltd. (NYSE:WFT) opened at 4.83 on Friday. The company’s 50 day moving average is $5.40 and its 200 day moving average is $5.77. The stock’s market cap is $4.33 billion. Weatherford International Ltd. has a 52 week low of $3.73 and a 52 week high of $11.21.

Weatherford International (NYSE:WFT) last released its quarterly earnings results on Tuesday, October 25th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.14. Weatherford International had a negative return on equity of 24.19% and a negative net margin of 63.74%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm posted ($0.05) earnings per share. The firm’s quarterly revenue was down 39.4% compared to the same quarter last year. Equities analysts predict that Weatherford International Ltd. will post ($1.27) earnings per share for the current year.

In other Weatherford International news, VP Douglas M. Mills sold 12,500 shares of the business’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $5.97, for a total transaction of $74,625.00. Following the sale, the vice president now directly owns 223,933 shares in the company, valued at approximately $1,336,880.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC increased its stake in Weatherford International by 149.8% in the third quarter. Quantitative Systematic Strategies LLC now owns 28,477 shares of the company’s stock worth $162,000 after buying an additional 17,076 shares during the period. Mosaic Family Wealth LLC increased its stake in Weatherford International by 59.5% in the third quarter. Mosaic Family Wealth LLC now owns 28,149 shares of the company’s stock worth $158,000 after buying an additional 10,504 shares during the period. Balentine LLC bought a new stake in Weatherford International during the third quarter worth approximately $122,000. Verition Fund Management LLC increased its stake in Weatherford International by 2,812.5% in the third quarter. Verition Fund Management LLC now owns 88,700 shares of the company’s stock worth $498,000 after buying an additional 91,970 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Weatherford International during the third quarter worth approximately $294,000. Institutional investors own 97.61% of the company’s stock.

Weatherford International Company Profile

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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