Public Employees Retirement System of Ohio purchased a new position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 21,306 shares of the company's stock, valued at approximately $1,736,000.
Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Weatherford International by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company's stock worth $25,000 after purchasing an additional 178 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Weatherford International during the 4th quarter worth $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Weatherford International by 83.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company's stock worth $28,000 after buying an additional 253 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Weatherford International during the 2nd quarter worth $38,000. Finally, Leonteq Securities AG acquired a new stake in Weatherford International in the fourth quarter valued at about $39,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Benjamin Duster, IV sold 6,000 shares of Weatherford International stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total transaction of $516,540.00. Following the completion of the transaction, the director directly owned 11,187 shares in the company, valued at $963,088.83. This trade represents a 34.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacqueline Mutschler sold 4,094 shares of Weatherford International stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $90.50, for a total value of $370,507.00. Following the transaction, the director directly owned 29,093 shares in the company, valued at approximately $2,632,916.50. The trade was a 12.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,094 shares of company stock worth $2,244,487. Insiders own 2.08% of the company's stock.
Analysts Set New Price Targets
WFRD has been the subject of a number of research reports. Barclays dropped their target price on shares of Weatherford International from $154.00 to $151.00 and set an "overweight" rating for the company in a report on Friday, July 24th. Citigroup lowered their price objective on shares of Weatherford International from $137.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, June 26th. Weiss Ratings downgraded shares of Weatherford International from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. Zacks Research lowered shares of Weatherford International from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen cut shares of Weatherford International from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Weatherford International currently has an average rating of "Moderate Buy" and an average target price of $114.25.
Check Out Our Latest Research Report on Weatherford International
Weatherford International Price Performance
WFRD stock opened at $95.88 on Monday. Weatherford International PLC has a 12-month low of $60.23 and a 12-month high of $113.15. The company has a quick ratio of 1.77, a current ratio of 2.34 and a debt-to-equity ratio of 0.81. The company's fifty day simple moving average is $87.61 and its 200 day simple moving average is $95.44. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.64 and a beta of 0.90.
Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.35). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.The firm's revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.87 EPS. On average, analysts expect that Weatherford International PLC will post 5.22 earnings per share for the current year.
Weatherford International Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, August 6th. Weatherford International's payout ratio is 21.70%.
About Weatherford International
(
Free Report)
Weatherford International NASDAQ: WFRD is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.
In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.
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