We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Weatherford (WFT) Prices and Upsizes Senior Notes Offering
Read MoreHide Full Article
Weatherford International plc declared the pricing of $540 million aggregate principal amount of senior notes. The principal amount of the notes, which are scheduled to mature by 2024 and will carry an interest rate of 9.875%, has been upsized from $500 million.
The offering of the notes will be closed by Nov 18, 2016, upon fulfillment of customary closing conditions. The offering reflects the company’s intention to repay outstanding amount under its revolving credit facility.
Switzerland-based Weatherford is a leading oilfield services company. It manufactures and provides equipment and services for drilling, completion, and production of oil and natural gas wells. The company is among the top players in each of its product/service categories and is present in most major hydrocarbon-producing regions of the world. The company enjoys very strong relationships with both publicly traded and national oil companies, worldwide.
However, Weatherford’s reported third-quarter 2016 adjusted loss of 39 cents per share was much wider than the Zacks Consensus Estimate of 24 cents and the year-earlier adjusted loss of 5 cents. Moreover, revenues of $1,356 million decreased significantly from $2,237 million in the year-ago period and missed the Zacks Consensus Estimate by 5.2%.
As a result, Weatherford currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy sector are Ultra Petroleum Corp. , EQT Midstream Partners, LP and Helix Energy Solutions Group, Inc. (HLX - Free Report) .
EQT Midstream is projected to witness year-over-year earnings growth of almost 12% in the current year. It has a Zacks Rank #2 (Buy).
Helix Energy posted an average positive earnings surprise of 56.42% in the last four quarters. The company has a Zacks Rank #2.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Weatherford (WFT) Prices and Upsizes Senior Notes Offering
Weatherford International plc declared the pricing of $540 million aggregate principal amount of senior notes. The principal amount of the notes, which are scheduled to mature by 2024 and will carry an interest rate of 9.875%, has been upsized from $500 million.
The offering of the notes will be closed by Nov 18, 2016, upon fulfillment of customary closing conditions. The offering reflects the company’s intention to repay outstanding amount under its revolving credit facility.
Switzerland-based Weatherford is a leading oilfield services company. It manufactures and provides equipment and services for drilling, completion, and production of oil and natural gas wells. The company is among the top players in each of its product/service categories and is present in most major hydrocarbon-producing regions of the world. The company enjoys very strong relationships with both publicly traded and national oil companies, worldwide.
However, Weatherford’s reported third-quarter 2016 adjusted loss of 39 cents per share was much wider than the Zacks Consensus Estimate of 24 cents and the year-earlier adjusted loss of 5 cents. Moreover, revenues of $1,356 million decreased significantly from $2,237 million in the year-ago period and missed the Zacks Consensus Estimate by 5.2%.
WEATHERFORD INT Price
WEATHERFORD INT Price | WEATHERFORD INT Quote
As a result, Weatherford currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy sector are Ultra Petroleum Corp. , EQT Midstream Partners, LP and Helix Energy Solutions Group, Inc. (HLX - Free Report) .
Ultra Petroleum is likely to witness year-over-year earnings growth of 425.8% in the current year. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
EQT Midstream is projected to witness year-over-year earnings growth of almost 12% in the current year. It has a Zacks Rank #2 (Buy).
Helix Energy posted an average positive earnings surprise of 56.42% in the last four quarters. The company has a Zacks Rank #2.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>