Russell Investments Group Ltd. Has $2.78 Million Position in Weatherford International PLC $WFRD

Key Points

• Russell Investments Group Ltd. increased its stake in Weatherford International PLC by 23.8%, now owning 51,977 shares valued at approximately $2.78 million.
• Weatherford International's stock is currently rated as a "Moderate Buy" with an average target price of $99.70, following recent upgrades from analysts.
• The company announced a quarterly dividend of $0.25 per share, equating to an annualized dividend of $1.00 and a yield of 1.6%, set to be paid September 4th.

Russell Investments Group Ltd. raised its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 23.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,977 shares of the company's stock after acquiring an additional 9,981 shares during the period. Russell Investments Group Ltd. owned about 0.07% of Weatherford International worth $2,783,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WFRD. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 482,352 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Weatherford International by 76.7% during the fourth quarter. Janus Henderson Group PLC now owns 907,593 shares of the company's stock worth $65,011,000 after purchasing an additional 393,955 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Weatherford International by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company's stock worth $431,104,000 after purchasing an additional 347,584 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Weatherford International by 135.2% during the fourth quarter. Voloridge Investment Management LLC now owns 585,398 shares of the company's stock worth $41,932,000 after purchasing an additional 336,504 shares during the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of Weatherford International by 1,465.4% during the first quarter. Fiera Capital Corp now owns 352,740 shares of the company's stock worth $18,889,000 after purchasing an additional 330,206 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Trading Up 0.5%

NASDAQ:WFRD traded up $0.35 during mid-day trading on Thursday, hitting $64.03. The company had a trading volume of 788,395 shares, compared to its average volume of 1,305,156. Weatherford International PLC has a fifty-two week low of $36.74 and a fifty-two week high of $106.47. The business's fifty day moving average is $55.34 and its two-hundred day moving average is $52.58. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 2.21. The firm has a market cap of $4.60 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.78 and a beta of 0.77.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The company's quarterly revenue was down 14.3% on a year-over-year basis. As a group, research analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business 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 presently 15.48%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays decreased their target price on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Zacks Research upgraded Weatherford International from a "strong sell" rating to a "hold" rating in a report on Monday. Raymond James Financial restated an "outperform" rating and set a $70.00 target price (up previously from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Citigroup decreased their target price on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Melius assumed coverage on Weatherford International in a report on Wednesday, August 20th. They set a "buy" rating and a $108.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.70.

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.