|Bid||0.0000 x 1000|
|Ask||0.0000 x 39400|
|Day's Range||0.3599 - 0.4093|
|52 Week Range||0.0480 - 2.9200|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||-0.00|
|Earnings Date||Jul 25, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.18|
Enables Customized, Asset-Level Operational Insight Via Complete Power BI Integration into the ForeSite Platform BAAR, Switzerland , Aug. 6, 2019 /PRNewswire/ -- Weatherford International plc (OTC-PINK: ...
Moody's Investors Service ("Moody's") downgraded Weatherford International Ltd.'s (Bermuda) (Weatherford, a Bermuda incorporated entity) Probability of Default Rating (PDR) to D-PD from Ca-PD following the announcement that the company filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Texas. The company's other ratings were affirmed, including the Ca Corporate Family Rating (CFR), and the Ca senior unsecured notes rating of both Weatherford and Weatherford International, LLC (Delaware).
The proposed comprehensive financial restructuring contemplated by the Restructuring Agreement would significantly reduce the Company's long-term debt and related interest costs, provide access to additional financing, and establish a more sustainable capital structure. The Company and noteholder parties to the Restructuring Agreement are in the process of negotiating definitive documentation relating to the transactions contemplated by the Restructuring Agreement, including commitments for debtor-in-possession financing facilities.
Weatherford's recent announcement that it would file for Chapter 11 bankruptcy protection was a factor in the NYSE moving forward with delisting the company.
Moody's Investors Service ("Moody's") downgraded Weatherford International Ltd.'s (Bermuda) (Weatherford, a Bermuda incorporated entity) Corporate Family Rating (CFR) to Ca from Caa2 and Probability of Default Rating to Ca-PD from Caa2-PD. Moody's also downgraded the senior unsecured notes of both Weatherford and Weatherford International, LLC (Delaware) (Weatherford LLC, incorporated in Delaware) to Ca from Caa3.
Weatherford bankruptcy news has WFT stock falling on Monday.Source: Via FlickrWeatherford (NYSE:WFT) is planning to restructure its debt through the use of the Chapter 11 bankruptcy. The goal of the Weatherford bankruptcy is to have the company reduce its total debt by $5.80 billion.According to documents filed with the U.S. Securities and Exchange Commission, the Weatherford bankruptcy will have the company canceling existing unsecured notes. These notes will be changed for 99% of the common stock of the reorganized Company and $1.25 billion of new tranche B senior unsecured notes to be issued by the reorganized Company with a seven-year maturity.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAlso part of the Weatherford bankruptcy are plans to cancel existing equity. The company instead exchange this for 1% of the New Common Stock. It will also offer three-year warrants to purchase 10% of the New Common Stock.So why exactly is a Weatherford bankruptcy taking place? That's easy enough. The company has been building up debts over the years that it needs to pay down. Even worse is the fact that it hasn't turned a profit in more than four years. It's hard to reduce debt when the company can't even make money. * 7 Dividend Stocks to Buy as the Trade War Reignites The Weatherford bankruptcy news comes alongside a poor earnings report for the first quarter of 2019. This includes losses per share of 48 cents on revenue of $1.346 billion. Wall Street was looking for losses per share of 13 cents on revenue of $1.348 billion for the period.WFT stock was down 3% as of Monday afternoon. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks to Buy as the Trade War Reignites * 10 Stocks That Could Squeeze Short Sellers, Including CGC * 5 Tech Stocks Getting Crushed As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Weatherford Bankruptcy: Oil & Gas Company Set to File Chapter 11 appeared first on InvestorPlace.
Oilfield services provider Weatherford International Plc said on Monday it would soon have debtor-in-possession financing that would allow it to file a plan for Chapter 11 bankruptcy and emerge quickly ...
Weatherford has been working to divest assets over the past year or so, and the company recently asked shareholders to approve a reverse stock split in an effort to avoid delisting.
What Happened in the Energy Sector Last Week(Continued from Prior Part)Energy stocksIn the week ending on May 10, oilfield services stock Weatherford International (WFT) fell the most among the stocks in the energy space. The stocks are included in
The company, which at its peak was valued at more than $50 billion (£38.4 billion), never recovered from the 2014 oil price collapse. Efforts under Chief Executive Officer Mark McCollum to quickly sell assets and pare debt struggled. Weatherford expects to reduce its long-term debt by more than $5.8 billion, through the restructuring.
BAAR, Switzerland, May 10, 2019 /PRNewswire/ -- Weatherford International plc (WFT) ("Weatherford" or the "Company") announced today that it has executed a restructuring support agreement (the "Restructuring Agreement") with a group of its senior noteholders (the "Ad Hoc Noteholder Group") that collectively holds or controls approximately 62% of the Company's senior unsecured notes. The proposed comprehensive financial restructuring would significantly reduce the Company's long-term debt and related interest costs, provide access to additional financing and establish a more sustainable capital structure.
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Weatherford International PLC (NYSE: WFT), which has its main U.S. office in Houston, has delayed releasing its first-quarter earnings report, which was supposed to come out May 8. The oil field services company now plans to release the report and file it with the U.S. Securities and Exchange Commission on May 10, but the associated conference call to discuss results will be canceled. Weatherford’s stock fell to 36.5 cents per share on the news the morning of May 8 before settling around 37.6 cents per share, down about 17.6 percent, in late afternoon trading, according to Yahoo Finance.
BAAR, Switzerland , May 7, 2019 /PRNewswire/ -- Weatherford International plc (NYSE:WFT) (the "Company") today announced that it has postponed its first quarter 2019 earnings release until Friday, ...
Investors need to pay close attention to Weatherford International (WFT) stock based on the movements in the options market lately.
Energy Weekly: Will US Crude Oil Hold $60?(Continued from Prior Part)Energy stocksIn the week ending on May 3, oilfield services stock Weatherford International (WFT) fell the most among the stocks in the energy space. The stocks are included in
The Industry's Only Intelligent MPD System Developed With Over 3.5 Million Hours of MPD Field Data BAAR, Switzerland, May 6, 2019 /PRNewswire/ -- Weatherford International plc (NYSE: WFT) (the "Company" ...