An issue of Weatherford International Plc (NYSE:WFT) bonds fell 2.6% as a percentage of their face value during trading on Thursday. The debt issue has a 9.875% coupon and will mature on March 1, 2025. The debt is now trading at $96.52 and was trading at $99.75 last week. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price.
A number of equities research analysts have weighed in on WFT shares. Societe Generale upgraded Weatherford International from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Seaport Global Securities upgraded Weatherford International from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.00 to $5.00 in a research report on Wednesday, November 1st. UBS Group set a $6.00 price target on Weatherford International and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Credit Suisse Group set a $6.00 price target on Weatherford International and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Finally, Gabelli reiterated a “buy” rating on shares of Weatherford International in a report on Tuesday, January 2nd. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $5.48.
Shares of Weatherford International Plc (NYSE:WFT) traded down $0.07 during trading hours on Thursday, reaching $2.56. The company had a trading volume of 23,932,026 shares, compared to its average volume of 25,947,988. Weatherford International Plc has a 52 week low of $2.52 and a 52 week high of $7.09. The stock has a market cap of $2,610.00, a P/E ratio of -0.90 and a beta of 2.07. The company has a debt-to-equity ratio of -13.21, a quick ratio of 1.19 and a current ratio of 1.74.
In related news, VP Douglas M. Mills sold 6,072 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $4.24, for a total transaction of $25,745.28. Following the transaction, the vice president now owns 232,399 shares in the company, valued at approximately $985,371.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Douglas M. Mills sold 7,500 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $3.75, for a total value of $28,125.00. Following the transaction, the vice president now owns 271,625 shares in the company, valued at approximately $1,018,593.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,726 shares of company stock worth $193,648. 1.16% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in WFT. Larson Financial Group LLC purchased a new position in Weatherford International during the 4th quarter valued at about $104,000. Investors Research Corp purchased a new position in Weatherford International during the 4th quarter valued at about $105,000. Balentine LLC increased its holdings in Weatherford International by 68.5% during the 3rd quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock valued at $168,000 after purchasing an additional 14,922 shares during the period. Toronto Dominion Bank increased its holdings in Weatherford International by 244.5% during the 3rd quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock valued at $181,000 after purchasing an additional 28,070 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Weatherford International by 8.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock valued at $215,000 after purchasing an additional 4,497 shares during the period.
About Weatherford International
Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.
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