Charles Schwab Investment Management Inc. Buys 51,958 Shares of Weatherford International PLC $WFRD

Charles Schwab Investment Management Inc. boosted its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 808,128 shares of the company's stock after purchasing an additional 51,958 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.11% of Weatherford International worth $43,275,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in WFRD. Fifth Third Bancorp boosted its stake in 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 acquiring an additional 503 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Weatherford International by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after buying an additional 231 shares during the period. Signaturefd LLC increased its stake 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. purchased a new stake in Weatherford International in the first quarter valued at $62,000. Finally, IFP Advisors Inc acquired a new stake in Weatherford International during the 1st quarter worth approximately $71,000. 97.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WFRD. Barclays cut their price objective on shares of Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Piper Sandler upgraded shares of Weatherford International from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $62.00 to $73.00 in a research note on Monday, July 28th. Citigroup dropped their target price on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Melius initiated coverage on Weatherford International in a research note on Wednesday. They issued a "buy" rating and a $108.00 price target on the stock. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $70.00 price objective (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 one has issued a Hold rating to the company. According to data from MarketBeat.com, Weatherford International currently has a consensus rating of "Moderate Buy" and an average target price of $99.70.

Weatherford International Stock Up 1.8%

NASDAQ:WFRD traded up $1.0230 during trading hours on Thursday, hitting $57.3830. 228,603 shares of the company's stock traded hands, compared to its average volume of 1,311,208. The firm has a market cap of $4.12 billion, a P/E ratio of 8.87, a P/E/G ratio of 1.63 and a beta of 0.77. The stock's fifty day moving average price is $54.44 and its two-hundred day moving average price is $52.73. 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 twelve month low of $36.74 and a twelve month high of $111.23.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted 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 firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%.The company's revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 EPS. On average, research analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Wednesday, August 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. Weatherford International's payout ratio is presently 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.