An issue of Weatherford International Ltd. (NYSE:WFT) debt fell 1.8% as a percentage of its face value during trading on Tuesday. The high-yield debt issue has a 8.25% coupon and is set to mature on June 15, 2023. The debt is now trading at $95.25 and was trading at $97.25 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

WFT has been the topic of several analyst reports. Citigroup Inc. upped their target price on shares of Weatherford International from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, September 12th. Raymond James Financial Inc. lowered shares of Weatherford International from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $7.00 to $6.50 in a report on Wednesday, November 2nd. Jefferies Group set a $8.00 target price on shares of Weatherford International and gave the stock a “buy” rating in a report on Tuesday, October 18th. Seaport Global Securities reaffirmed a “buy” rating on shares of Weatherford International in a report on Friday, August 19th. Finally, Zacks Investment Research raised shares of Weatherford International from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a report on Thursday, October 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $8.27.

Weatherford International Ltd. (NYSE:WFT) opened at 5.11 on Thursday. The company’s market capitalization is $4.58 billion. The stock’s 50 day moving average is $5.21 and its 200 day moving average is $5.61. Weatherford International Ltd. has a 52 week low of $3.73 and a 52 week high of $11.14.

Weatherford International (NYSE:WFT) last released its quarterly earnings results on Tuesday, October 25th. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. Weatherford International had a negative return on equity of 24.19% and a negative net margin of 63.74%. The business’s revenue for the quarter was down 39.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) earnings per share. Analysts predict that Weatherford International Ltd. will post ($1.28) EPS for the current fiscal year.

In related news, VP Douglas M. Mills sold 12,500 shares of Weatherford International stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $5.97, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of WFT. Ngam Advisors L.P. raised its position in Weatherford International by 2.8% in the third quarter. Ngam Advisors L.P. now owns 1,644,180 shares of the company’s stock worth $9,240,000 after buying an additional 44,605 shares in the last quarter. Vanguard Group Inc. raised its position in Weatherford International by 5.4% in the second quarter. Vanguard Group Inc. now owns 68,298,516 shares of the company’s stock worth $379,057,000 after buying an additional 3,504,828 shares in the last quarter. Monashee Investment Management LLC bought a new position in Weatherford International during the second quarter worth approximately $444,000. Oregon Public Employees Retirement Fund raised its position in Weatherford International by 51.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 170,534 shares of the company’s stock worth $946,000 after buying an additional 57,646 shares in the last quarter. Finally, TD Asset Management Inc. raised its position in Weatherford International by 30.4% in the second quarter. TD Asset Management Inc. now owns 58,762 shares of the company’s stock worth $326,000 after buying an additional 13,690 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

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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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