TD Asset Management Inc Raises Stake in Weatherford International PLC $WFRD

Key Points

• TD Asset Management Inc increased its stake in Weatherford International PLC by 8.7%, now holding 57,542 shares valued at approximately $2.9 million.
• Weatherford reported quarterly earnings of $1.87 per share, exceeding analysts' expectations of $0.97, despite a 14.3% decline in revenue compared to the same period last year.
• Analyst ratings for Weatherford International show an overall Moderate Buy consensus, with an average target price of $95.50.

TD Asset Management Inc increased its position in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,542 shares of the company's stock after buying an additional 4,588 shares during the period. TD Asset Management Inc owned about 0.08% of Weatherford International worth $2,895,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vest Financial LLC raised its holdings in Weatherford International by 127.5% in the 2nd quarter. Vest Financial LLC now owns 55,587 shares of the company's stock valued at $2,797,000 after acquiring an additional 31,150 shares during the last quarter. CWM LLC grew its position in shares of Weatherford International by 337.7% in the second quarter. CWM LLC now owns 6,657 shares of the company's stock valued at $335,000 after purchasing an additional 5,136 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Weatherford International by 177.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,129 shares of the company's stock valued at $1,013,000 after purchasing an additional 12,867 shares during the last quarter. 1858 Wealth Management LLC acquired a new stake in Weatherford International in the 2nd quarter worth about $217,000. Finally, Blue Trust Inc. grew its holdings in Weatherford International by 34.8% in the 2nd quarter. Blue Trust Inc. now owns 2,601 shares of the company's stock valued at $131,000 after buying an additional 672 shares during the period. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Price Performance

WFRD stock opened at $64.92 on Tuesday. The stock's 50 day moving average is $63.05 and its two-hundred day moving average is $54.11. Weatherford International PLC has a 52-week low of $36.74 and a 52-week high of $91.82. The company has a market capitalization of $4.66 billion, a PE ratio of 10.05, a P/E/G ratio of 1.62 and a beta of 0.79. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03.

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 for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The business's quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 earnings per share. Analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

WFRD has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on shares of Weatherford International in a research report on Friday, October 10th. They issued an "outperform" rating and a $82.00 target price on the stock. Piper Sandler upped their price objective on Weatherford International from $73.00 to $79.00 and gave the stock an "overweight" rating in a report on Thursday, October 16th. Melius assumed coverage on Weatherford International in a report on Wednesday, August 20th. They issued a "buy" rating and a $108.00 target price on the stock. Melius Research initiated coverage on Weatherford International in a research note on Wednesday, August 20th. They set a "buy" rating and a $108.00 price target for the company. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Weatherford International in a research note 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 issued a Hold rating to the stock. According to data from MarketBeat, Weatherford International currently has an average rating of "Moderate Buy" and an average target price of $95.50.

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.

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