An issue of Weatherford International plc (NYSE:WFT) bonds fell 1.3% as a percentage of their face value during trading on Tuesday. The high-yield issue of debt has a 8.25% coupon and will mature on June 15, 2023. The debt is now trading at $99.75 and was trading at $101.00 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

WFT has been the subject of a number of recent research reports. Scotiabank reiterated a “buy” rating on shares of Weatherford International plc in a research note on Tuesday, August 29th. Morgan Stanley reduced their target price on shares of Weatherford International plc from $5.50 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Sanford C. Bernstein upgraded shares of Weatherford International plc from a “market perform” rating to an “outperform” rating in a research note on Friday, November 3rd. Jefferies Group LLC set a $5.00 target price on shares of Weatherford International plc and gave the stock a “hold” rating in a research note on Thursday, October 5th. Finally, ValuEngine cut shares of Weatherford International plc from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $6.07.

Weatherford International plc (WFT) traded down $0.06 during midday trading on Tuesday, hitting $3.29. 28,790,197 shares of the stock were exchanged, compared to its average volume of 21,716,531. Weatherford International plc has a twelve month low of $3.16 and a twelve month high of $7.09. The company has a debt-to-equity ratio of 5.44, a quick ratio of 1.33 and a current ratio of 2.04.

Weatherford International plc (NYSE:WFT) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. Weatherford International plc had a negative net margin of 25.36% and a negative return on equity of 67.44%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. equities research analysts anticipate that Weatherford International plc will post -1.02 earnings per share for the current year.

In related news, VP Douglas M. Mills sold 17,500 shares of Weatherford International plc stock in a transaction on Friday, September 15th. The shares were sold at an average price of $4.43, for a total value of $77,525.00. Following the completion of the sale, the vice president now owns 279,125 shares in the company, valued at $1,236,523.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.16% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Weatherford International plc by 1.5% in the second quarter. Vanguard Group Inc. now owns 83,499,841 shares of the oil and gas company’s stock worth $323,144,000 after buying an additional 1,203,292 shares during the last quarter. Harris Associates L P increased its stake in Weatherford International plc by 2,166.3% during the second quarter. Harris Associates L P now owns 61,075,275 shares of the oil and gas company’s stock valued at $236,361,000 after purchasing an additional 58,380,345 shares during the last quarter. State Street Corp increased its stake in Weatherford International plc by 3.3% during the second quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock valued at $195,718,000 after purchasing an additional 1,617,102 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Weatherford International plc by 71.9% during the second quarter. Wedge Capital Management L L P NC now owns 29,156,413 shares of the oil and gas company’s stock valued at $112,835,000 after purchasing an additional 12,194,205 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Weatherford International plc by 12.5% during the third quarter. Van ECK Associates Corp now owns 26,859,040 shares of the oil and gas company’s stock valued at $123,014,000 after purchasing an additional 2,979,183 shares during the last quarter.

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