Weatherford International PLC $WFRD Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 6.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 808,128 shares of the company's stock after buying an additional 51,958 shares during the period. Charles Schwab Investment Management Inc. owned about 1.11% of Weatherford International worth $43,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in shares of Weatherford International by 546.7% in the first quarter. Fifth Third Bancorp now owns 595 shares of the company's stock valued at $32,000 after purchasing an additional 503 shares during the period. GAMMA Investing LLC boosted its position in Weatherford International by 55.8% during the first quarter. GAMMA Investing LLC now owns 645 shares of the company's stock worth $35,000 after acquiring an additional 231 shares during the last quarter. Signaturefd LLC boosted its position in Weatherford International by 1,002.0% during the first quarter. Signaturefd LLC now owns 1,091 shares of the company's stock worth $58,000 after acquiring an additional 992 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Weatherford International during the first quarter worth about $62,000. Finally, IFP Advisors Inc acquired a new position in Weatherford International during the first quarter worth about $71,000. Hedge funds and other institutional investors own 97.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup lowered their price target on shares of Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial restated an "outperform" rating and set a $70.00 price target (up from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. 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. Melius began coverage on shares of Weatherford International in a research note on Wednesday. They set a "buy" rating and a $108.00 target price on the stock. Finally, Barclays reduced 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. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.70.

Weatherford International Trading Up 6.2%

Shares of Weatherford International stock traded up $3.5350 on Friday, reaching $60.8450. The company had a trading volume of 238,931 shares, compared to its average volume of 1,306,615. The firm's 50 day moving average price is $54.53 and its two-hundred day moving average price is $52.68. The firm has a market cap of $4.37 billion, a PE ratio of 9.42, a PEG ratio of 1.63 and a beta of 0.77. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $111.23. 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 (NASDAQ:WFRD - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.90. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm earned $1.66 EPS. The business's revenue was down 14.3% on a year-over-year basis. Sell-side analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

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

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.