An issue of Weatherford International Plc (NYSE:WFT) debt fell 1.6% as a percentage of its face value during trading on Tuesday. The high-yield debt issue has a 7% coupon and will mature on March 15, 2038. The bonds in the issue are now trading at $74.38 and were trading at $75.50 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
Several equities research analysts have commented on WFT shares. Royal Bank of Canada set a $5.00 price target on shares of Weatherford International and gave the stock a “buy” rating in a research report on Thursday, December 21st. ValuEngine downgraded Weatherford International from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Seaport Global Securities restated a “buy” rating and set a $6.00 price objective on shares of Weatherford International in a report on Monday, February 5th. Barclays downgraded Weatherford International from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $6.00 to $3.50 in a report on Tuesday, February 13th. Finally, UBS set a $6.00 price objective on Weatherford International and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Five research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $5.29.
Weatherford International Plc (WFT) traded down $0.07 during trading hours on Tuesday, reaching $2.48. The company’s stock had a trading volume of 13,146,661 shares, compared to its average volume of 23,827,541. The company has a current ratio of 1.74, a quick ratio of 1.19 and a debt-to-equity ratio of -13.21. Weatherford International Plc has a 52 week low of $2.41 and a 52 week high of $6.86. The stock has a market cap of $2,563.53, a PE ratio of -0.88 and a beta of 2.31.
In other Weatherford International news, VP Douglas M. Mills sold 17,931 shares of Weatherford International stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $4.34, for a total transaction of $77,820.54. Following the transaction, the vice president now owns 238,471 shares of the company’s stock, valued at approximately $1,034,964.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Douglas M. Mills sold 15,223 shares of Weatherford International stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $4.07, for a total value of $61,957.61. Following the transaction, the vice president now directly owns 256,402 shares in the company, valued at approximately $1,043,556.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,726 shares of company stock worth $193,648. Company insiders own 0.44% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Exane Derivatives grew its stake in shares of Weatherford International by 114.8% in the 4th quarter. Exane Derivatives now owns 946,272 shares of the oil and gas company’s stock valued at $3,935,000 after buying an additional 505,681 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Weatherford International in the 3rd quarter valued at approximately $392,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Weatherford International by 35.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 412,589 shares of the oil and gas company’s stock valued at $1,890,000 after buying an additional 109,098 shares in the last quarter. Precocity Capital LP grew its stake in shares of Weatherford International by 47.1% in the 3rd quarter. Precocity Capital LP now owns 1,250,000 shares of the oil and gas company’s stock valued at $5,725,000 after buying an additional 400,000 shares in the last quarter. Finally, Ninepoint Partners LP bought a new stake in shares of Weatherford International in the 4th quarter valued at approximately $5,004,000.
WARNING: This article was first posted by Ticker Report and is owned by of Ticker Report. If you are reading this article on another publication, it was stolen and reposted in violation of US & international copyright and trademark laws. The original version of this article can be accessed at https://www.tickerreport.com/banking-finance/3282577/weatherford-international-wft-bonds-trading-1-6-lower.html.
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.
Receive News & Ratings for Weatherford International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weatherford International and related companies with MarketBeat.com's FREE daily email newsletter.