NEW YORK (TheStreet) -- Shares of Weatherford (WFT) - Get Report were tumbling 12.50% to $5.39 on heavy trading volume early Wednesday afternoon after reporting 2016 third-quarter results that missed analysts' expectations.

After yesterday's market close, the Swiss-based drilling contractor reported an adjusted loss of 39 cents per share on revenue of $1.36 billion.

Analysts surveyed by Thomson Reuters were looking for a loss of 25 cents per share on revenue of $1.44 billion for the period.

"Given that the industry bottomed during the second quarter, the worst of the historical downturn is behind us, and the market is slowly turning," CEO Bernard Duroc-Danner said in a statement.

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About 44.37 million shares of Weatherford have been traded so far today, well above the company's average trading volume 19.81 million shares a day. 

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

Weatherford's weaknesses include its generally high debt management risk, disappointing return on equity, weak operating cash flow, poor profit margins and generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: WFT

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

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