An issue of Weatherford International PLC (NYSE:WFT) debt fell 1.7% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 9.875% coupon and is set to mature on February 15, 2024. The bonds in the issue are now trading at $102.03 and were trading at $104.72 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

Several brokerages recently issued reports on WFT. Piper Jaffray Companies set a $6.00 price target on shares of Weatherford International PLC and gave the company a “buy” rating in a report on Saturday, July 29th. Scotiabank set a $6.00 price target on shares of Weatherford International PLC and gave the company a “hold” rating in a report on Friday, July 7th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Weatherford International PLC in a report on Friday, July 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $7.00 price target (down from $8.00) on shares of Weatherford International PLC in a report on Tuesday, May 30th. Finally, BidaskClub raised shares of Weatherford International PLC from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $6.39.

Weatherford International PLC (NYSE WFT) traded down 1.28% during mid-day trading on Thursday, hitting $3.86. 11,761,232 shares of the stock traded hands. The firm’s market cap is $3.82 billion. The firm’s 50-day moving average is $4.12 and its 200 day moving average is $5.16. Weatherford International PLC has a 52-week low of $3.39 and a 52-week high of $7.09.

Weatherford International PLC (NYSE:WFT) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.28). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.46 billion. Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. Weatherford International PLC’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.28) EPS. Equities analysts predict that Weatherford International PLC will post ($1.03) EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd raised its position in Weatherford International PLC by 65.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 67,941 shares of the oil and gas company’s stock valued at $263,000 after buying an additional 26,974 shares in the last quarter. Verition Fund Management LLC raised its position in Weatherford International PLC by 113.0% in the second quarter. Verition Fund Management LLC now owns 190,524 shares of the oil and gas company’s stock valued at $737,000 after buying an additional 101,074 shares in the last quarter. Schneider Capital Management Corp raised its position in Weatherford International PLC by 0.5% in the second quarter. Schneider Capital Management Corp now owns 5,814,416 shares of the oil and gas company’s stock valued at $22,502,000 after buying an additional 31,400 shares in the last quarter. Capital Innovations LLC bought a new position in Weatherford International PLC during the second quarter valued at about $352,000. Finally, Bank of Nova Scotia raised its position in Weatherford International PLC by 825.9% in the second quarter. Bank of Nova Scotia now owns 331,000 shares of the oil and gas company’s stock valued at $1,281,000 after buying an additional 376,600 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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