Stanley Laman Group Ltd. Purchases 12,948 Shares of Weatherford International PLC $WFRD

Key Points

• Stanley Laman Group Ltd. increased its stake in Weatherford International PLC by 21.9% in Q2, acquiring an additional 12,948 shares, bringing its total to 72,097 shares worth approximately $3.63 million.
• Weatherford International reported an EPS of $1.87 for the last quarter, exceeding analysts' expectations, despite a 14.3% year-over-year decline in quarterly revenue.
• Several analysts have recently raised their price targets for Weatherford International, with Piper Sandler setting it at $79.00 and BMO Capital Markets at $82.00, indicating positive market confidence in the stock.

Stanley Laman Group Ltd. raised its position in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 21.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,097 shares of the company's stock after acquiring an additional 12,948 shares during the quarter. Stanley Laman Group Ltd. owned about 0.10% of Weatherford International worth $3,627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American National Bank & Trust boosted its position in shares of Weatherford International by 2,392.0% during the 2nd quarter. American National Bank & Trust now owns 623 shares of the company's stock valued at $31,000 after purchasing an additional 598 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Weatherford International by 546.7% during the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company's stock worth $32,000 after buying an additional 503 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Weatherford International by 30,600.0% during the 1st quarter. Brooklyn Investment Group now owns 614 shares of the company's stock worth $33,000 after buying an additional 612 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Weatherford International by 196.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 653 shares of the company's stock valued at $33,000 after acquiring an additional 433 shares in the last quarter. Finally, GAMMA Investing LLC lifted 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 acquiring an additional 231 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Price Performance

WFRD stock opened at $62.29 on Friday. 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 business has a 50-day simple moving average of $62.83 and a two-hundred day simple moving average of $53.88. The company has a market capitalization of $4.47 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 1.64 and a beta of 0.79. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $91.82.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%.The company's quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 earnings per share. Research analysts expect that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Piper Sandler raised their price target on shares of Weatherford International from $73.00 to $79.00 and gave the stock an "overweight" rating in a report on Thursday. BMO Capital Markets began coverage on shares of Weatherford International in a research report on Friday, October 10th. They set an "outperform" rating and a $82.00 price objective on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $70.00 target price (up from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. Zacks Research upgraded Weatherford International from a "hold" rating to a "strong-buy" rating in a report on Monday, October 13th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Weatherford International in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Weatherford International currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.50.

About Weatherford International

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.

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