Weatherford International PLC (WFT) Bond Prices Fall 1.9%

An issue of Weatherford International PLC (NYSE:WFT) bonds fell 1.9% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 8.25% coupon and is set to mature on June 15, 2023. The bonds in the issue are now trading at $103.75 and were trading at $106.80 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.

Several analysts have commented on the stock. Stephens reissued an “underweight” rating and issued a $3.75 price target on shares of Weatherford International PLC in a research report on Monday, March 27th. Goldman Sachs Group, Inc. (The) cut shares of Weatherford International PLC from a “buy” rating to a “neutral” rating and set a $7.25 price objective for the company. in a research note on Tuesday, April 18th. Deutsche Bank AG set a $8.00 price objective on shares of Weatherford International PLC and gave the company a “buy” rating in a research note on Monday, March 27th. Tudor Pickering assumed coverage on shares of Weatherford International PLC in a research note on Thursday, March 23rd. They set a “buy” rating for the company. Finally, Vetr raised shares of Weatherford International PLC from a “buy” rating to a “strong-buy” rating and set a $7.02 price target for the company in a research note on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Weatherford International PLC has a consensus rating of “Buy” and an average target price of $7.23.

Shares of Weatherford International PLC (WFT) opened at 4.09 on Friday. The company’s 50-day moving average is $4.91 and its 200 day moving average is $5.53. The stock’s market capitalization is $4.03 billion. Weatherford International PLC has a 12 month low of $3.69 and a 12 month high of $7.09.

Weatherford International PLC (NYSE:WFT) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.31) by $0.01. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.36 billion. Weatherford International PLC had a negative return on equity of 47.36% and a negative net margin of 60.22%. The company’s quarterly revenue was down 12.6% on a year-over-year basis. During the same period last year, the firm earned ($0.29) EPS. Equities research analysts predict that Weatherford International PLC will post ($0.97) 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 that occurred on Wednesday, May 10th. The stock was sold at an average price of $5.19, for a total value of $90,825.00. Following the sale, the vice president now directly owns 296,625 shares in the company, valued at $1,539,483.75. The transaction was disclosed in a document filed with the SEC, 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 WFT. Korea Investment CORP acquired a new stake in Weatherford International PLC during the first quarter worth $6,015,000. Cipher Capital LP acquired a new stake in Weatherford International PLC during the first quarter worth $1,310,000. DekaBank Deutsche Girozentrale increased its stake in Weatherford International PLC by 58.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 101,807 shares of the oil and gas company’s stock worth $693,000 after buying an additional 37,643 shares during the period. AQR Capital Management LLC increased its stake in Weatherford International PLC by 409.0% in the fourth quarter. AQR Capital Management LLC now owns 129,297 shares of the oil and gas company’s stock worth $645,000 after buying an additional 103,897 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Weatherford International PLC by 13.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,982 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 1,899 shares in the last quarter.

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Weatherford International PLC 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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