Stanley Laman Group Ltd. Raises Holdings in Weatherford International plc (NASDAQ:WFRD)

Stanley Laman Group Ltd. raised its stake in Weatherford International plc (NASDAQ:WFRD - Free Report) by 52.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,149 shares of the company's stock after buying an additional 20,266 shares during the quarter. Stanley Laman Group Ltd. owned approximately 0.08% of Weatherford International worth $3,167,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. New York Life Investment Management LLC purchased a new position in Weatherford International during the fourth quarter worth about $546,000. Amundi raised its position in shares of Weatherford International by 154.7% during the 4th quarter. Amundi now owns 38,993 shares of the company's stock valued at $2,813,000 after buying an additional 23,685 shares during the period. William Blair Investment Management LLC lifted its holdings in Weatherford International by 9.5% in the fourth quarter. William Blair Investment Management LLC now owns 500,005 shares of the company's stock valued at $35,815,000 after acquiring an additional 43,182 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Weatherford International in the fourth quarter worth approximately $7,215,000. Finally, American Century Companies Inc. increased its stake in Weatherford International by 29.4% during the fourth quarter. American Century Companies Inc. now owns 280,510 shares of the company's stock worth $20,093,000 after acquiring an additional 63,775 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Stock Down 2.2%

Shares of NASDAQ WFRD traded down $1.17 during mid-day trading on Monday, hitting $51.86. The company had a trading volume of 896,532 shares, compared to its average volume of 1,193,175. The company has a market capitalization of $3.76 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. The business's 50-day simple moving average is $45.69 and its 200 day simple moving average is $58.52. Weatherford International plc has a 1-year low of $36.74 and a 1-year high of $135.00. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.01 and a quick ratio of 1.49.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, analysts predict that Weatherford International plc will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. Weatherford International's dividend payout ratio (DPR) is currently 16.00%.

Insider Transactions at Weatherford International

In other Weatherford International news, Director Neal P. Goldman acquired 12,000 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were acquired at an average price of $42.04 per share, for a total transaction of $504,480.00. Following the acquisition, the director now owns 25,311 shares in the company, valued at $1,064,074.44. The trade was a 90.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.09% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on WFRD shares. Barclays reduced their price objective on shares of Weatherford International from $85.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Raymond James lowered shares of Weatherford International from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $73.00 to $69.00 in a report on Thursday, April 24th. Piper Sandler dropped their target price on shares of Weatherford International from $80.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Citigroup decreased their price target on Weatherford International from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.63.

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.