Weatherford International PLC $WFRD Shares Bought by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. increased its holdings in Weatherford International PLC by 17.0%, owning 120,294 shares worth approximately $6.44 million as of the latest SEC filing.
• Multiple institutional investors, including Vanguard Group Inc. and Bank of New York Mellon Corp., significantly increased their stakes in Weatherford International during the first quarter.
• Weatherford International's quarterly dividend of $0.25 per share will be paid on September 4th, with a current dividend yield of 1.6%.

Baird Financial Group Inc. grew its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 17.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 120,294 shares of the company's stock after buying an additional 17,451 shares during the period. Baird Financial Group Inc. owned 0.17% of Weatherford International worth $6,442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFRD. Signaturefd LLC raised its position in Weatherford International by 1,002.0% during the 1st quarter. Signaturefd LLC now owns 1,091 shares of the company's stock worth $58,000 after buying an additional 992 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Weatherford International in the 1st quarter valued at $445,000. Algert Global LLC acquired a new stake in Weatherford International in the 1st quarter valued at $522,000. GAMMA Investing LLC grew its stake in Weatherford International by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after acquiring an additional 231 shares during the period. Finally, Diversified Trust Co acquired a new stake in Weatherford International during the 1st quarter worth $419,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WFRD shares. Barclays lowered their target price on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Citigroup lowered their target price on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler raised shares of Weatherford International from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $62.00 to $73.00 in a research note on Monday, July 28th. Zacks Research raised shares of Weatherford International from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Raymond James Financial reissued an "outperform" rating and set a $70.00 price target (up previously from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $99.70.

Weatherford International Stock Up 1.0%

NASDAQ:WFRD traded up $0.65 during mid-day trading on Tuesday, hitting $62.41. The stock had a trading volume of 140,987 shares, compared to its average volume of 1,284,445. The company has a market capitalization of $4.48 billion, a PE ratio of 9.64, a PEG ratio of 1.81 and a beta of 0.78. Weatherford International PLC has a twelve month low of $36.74 and a twelve month high of $98.21. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. The stock has a 50-day simple moving average of $57.53 and a two-hundred day simple moving average of $51.98.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, beating the consensus estimate of $0.97 by $0.90. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The firm's revenue was down 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share. On average, equities research analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current year.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Wednesday, August 6th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, August 6th. Weatherford International's dividend payout ratio (DPR) is 15.48%.

About Weatherford International

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.