Brown Advisory Inc. Acquires 31,600 Shares of Weatherford International PLC (NASDAQ:WFRD)

Brown Advisory Inc. raised its position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 32.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,078 shares of the company's stock after purchasing an additional 31,600 shares during the quarter. Brown Advisory Inc. owned 0.18% of Weatherford International worth $6,966,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors raised its holdings in Weatherford International by 295.9% in the 4th quarter. Capital Research Global Investors now owns 5,945,755 shares of the company's stock worth $425,894,000 after purchasing an additional 4,443,823 shares during the period. Invesco Ltd. acquired a new position in Weatherford International in the 4th quarter worth about $104,287,000. Norges Bank acquired a new position in shares of Weatherford International during the fourth quarter valued at approximately $65,678,000. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Weatherford International by 181.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,303,007 shares of the company's stock valued at $93,334,000 after purchasing an additional 840,456 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Weatherford International by 67.1% in the first quarter. Bank of New York Mellon Corp now owns 1,201,544 shares of the company's stock valued at $64,343,000 after purchasing an additional 482,352 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company's stock.

Weatherford International Stock Performance

Shares of WFRD traded down $2.06 during mid-day trading on Tuesday, reaching $53.68. 818,032 shares of the company's stock traded hands, compared to its average volume of 1,384,896. The business's 50-day moving average price is $49.54 and its 200-day moving average price is $55.22. The stock has a market capitalization of $3.89 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 1.65 and a beta of 0.76. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.52 and a current ratio of 2.08. Weatherford International PLC has a 12 month low of $36.74 and a 12 month high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.89 by $0.14. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.21 billion. Weatherford International had a return on equity of 35.88% and a net margin of 8.79%. Equities analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Tuesday, May 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.86%. Weatherford International's dividend payout ratio is currently 16.00%.

Insider Activity

In other news, Director Neal P. Goldman bought 12,000 shares of the business's stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $42.04 per share, with a total value of $504,480.00. Following the purchase, the director directly owned 25,311 shares in the company, valued at $1,064,074.44. This trade represents a 90.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WFRD. Citigroup lowered their price target on Weatherford International from $90.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Piper Sandler cut their target price on Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Raymond James Financial lowered Weatherford International from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock from $73.00 to $69.00 in a report on Thursday, April 24th. Finally, Barclays dropped their target price on Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $96.63.

Weatherford International 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.