Baird Financial Group Inc. Raises Holdings in Weatherford International PLC $WFRD

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. boosted 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 firm owned 120,294 shares of the company's stock after acquiring an additional 17,451 shares during the period. Baird Financial Group Inc. owned 0.17% of Weatherford International worth $6,442,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Weatherford International by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock valued at $431,104,000 after buying an additional 347,584 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Weatherford International by 2.0% in the first quarter. Invesco Ltd. now owns 1,485,746 shares of the company's stock worth $79,562,000 after acquiring an additional 29,840 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in shares of Weatherford International by 13.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,474,131 shares of the company's stock valued at $78,940,000 after purchasing an additional 171,124 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Weatherford International by 67.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,201,544 shares of the company's stock worth $64,343,000 after purchasing an additional 482,352 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Weatherford International by 43.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,046,520 shares of the company's stock worth $56,041,000 after purchasing an additional 318,254 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WFRD shares. Piper Sandler upgraded Weatherford International from a "neutral" rating to an "overweight" rating and upped their price target for the company from $62.00 to $73.00 in a research report on Monday, July 28th. Barclays reduced their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating for the company 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. Melius initiated coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They set a "buy" rating and a $108.00 price target for the company. Finally, Zacks Research raised shares of Weatherford International from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.70.

Weatherford International Stock Down 3.8%

Shares of NASDAQ:WFRD opened at $62.36 on Thursday. The firm has a market capitalization of $4.48 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.84 and a beta of 0.78. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 2.21. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $98.95. The firm has a fifty day moving average of $56.80 and a 200 day moving average of $52.38.

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

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.6%. Weatherford International's dividend payout ratio is currently 15.48%.

Weatherford International Company Profile

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.

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