Weatherford International Ltd. (WFT) Bonds Trading 1% Lower
An issue of Weatherford International Ltd. (NYSE:WFT) bonds fell 1% as a percentage of their face value during trading on Tuesday. The high-yield issue of debt has a 6.75% coupon and is set to mature on September 15, 2040. The bonds in the issue are now trading at $76.00 and were trading at $75.00 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its stock price.
Several analysts recently weighed in on WFT shares. Jefferies Group set a $8.00 price target on Weatherford International and gave the stock a “buy” rating in a report on Tuesday, October 18th. Citigroup Inc. lifted their price target on Weatherford International from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, October 11th. Zacks Investment Research raised Weatherford International from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Thursday, October 6th. Seaport Global Securities reissued a “buy” rating on shares of Weatherford International in a report on Friday, August 19th. Finally, Nomura set a $10.00 price target on Weatherford International and gave the stock a “buy” rating in a report on Tuesday, August 16th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the stock. Weatherford International has an average rating of “Buy” and a consensus price target of $8.27.
Weatherford International Ltd. (NYSE:WFT) traded up 1.45% on Tuesday, reaching $4.89. The company had a trading volume of 29,751,152 shares. Weatherford International Ltd. has a one year low of $3.73 and a one year high of $11.21. The company’s 50 day moving average is $5.32 and its 200-day moving average is $5.63. The firm’s market capitalization is $4.39 billion.
Weatherford International (NYSE:WFT) last announced its quarterly earnings data on Tuesday, October 25th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.14. Weatherford International had a negative net margin of 63.74% and a negative return on equity of 24.19%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business posted ($0.05) earnings per share. The firm’s quarterly revenue was down 39.4% compared to the same quarter last year. On average, equities research analysts expect that Weatherford International Ltd. will post ($1.27) earnings per share for the current fiscal year.
In other news, VP Douglas M. Mills sold 12,500 shares of the firm’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $5.97, for a total transaction of $74,625.00. Following the transaction, the vice president now directly owns 223,933 shares of the company’s stock, valued at $1,336,880.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. MSI Financial Services Inc boosted its stake in Weatherford International by 0.5% in the third quarter. MSI Financial Services Inc now owns 20,738 shares of the company’s stock valued at $117,000 after buying an additional 102 shares during the last quarter. Wedbush Securities Inc. boosted its stake in Weatherford International by 0.9% in the third quarter. Wedbush Securities Inc. now owns 45,792 shares of the company’s stock valued at $257,000 after buying an additional 420 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Weatherford International by 3.5% in the second quarter. CIBC Asset Management Inc now owns 19,189 shares of the company’s stock valued at $106,000 after buying an additional 647 shares during the last quarter. First Allied Advisory Services Inc. boosted its stake in Weatherford International by 1.9% in the second quarter. First Allied Advisory Services Inc. now owns 49,221 shares of the company’s stock valued at $274,000 after buying an additional 909 shares during the last quarter. Finally, Commonwealth Equity Services Inc boosted its stake in Weatherford International by 3.4% in the second quarter. Commonwealth Equity Services Inc now owns 31,354 shares of the company’s stock valued at $174,000 after buying an additional 1,029 shares during the last quarter. 98.12% of the stock is currently owned by institutional investors.
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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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