Envestnet Asset Management Inc. Has $9.23 Million Holdings in Weatherford International PLC (NASDAQ:WFRD)

Envestnet Asset Management Inc. trimmed its stake in Weatherford International PLC (NASDAQ:WFRD - Free Report) by 10.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 172,374 shares of the company's stock after selling 19,112 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.24% of Weatherford International worth $9,231,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. increased its holdings in shares of Weatherford International by 1.0% during the fourth quarter. Xponance Inc. now owns 17,072 shares of the company's stock valued at $1,223,000 after purchasing an additional 167 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of Weatherford International by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 31,730 shares of the company's stock valued at $2,273,000 after purchasing an additional 200 shares during the period. Covestor Ltd increased its holdings in shares of Weatherford International by 30.1% during the fourth quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $66,000 after purchasing an additional 214 shares during the period. Gradient Investments LLC increased its holdings in shares of Weatherford International by 1.4% during the first quarter. Gradient Investments LLC now owns 16,080 shares of the company's stock valued at $861,000 after purchasing an additional 228 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Weatherford International by 55.8% during the first quarter. GAMMA Investing LLC now owns 645 shares of the company's stock valued at $35,000 after purchasing an additional 231 shares during the period. 97.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WFRD shares. Barclays lowered their price target on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday. Raymond James Financial reaffirmed an "outperform" rating and set a $70.00 target price (up from $69.00) on shares of Weatherford International in a report on Thursday. Citigroup lowered 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, Piper Sandler lowered their target price on Weatherford International from $80.00 to $62.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.25.

Weatherford International Trading Down 1.8%

WFRD traded down $1.08 during trading on Thursday, reaching $57.31. The company had a trading volume of 1,045,280 shares, compared to its average volume of 1,377,808. The firm's 50-day simple moving average is $50.62 and its 200 day simple moving average is $54.62. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 1.78 and a beta of 0.76. Weatherford International PLC has a 12-month low of $36.74 and a 12-month high of $123.04. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.52 and a current ratio of 2.08.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued 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 firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. Weatherford International had a return on equity of 36.08% and a net margin of 9.35%. Weatherford International's revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. Equities research analysts anticipate that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Wednesday, August 6th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.75%. Weatherford International's dividend payout ratio is currently 15.48%.

Weatherford International Company 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.