Weatherford International PLC $WFRD Shares Purchased by Vest Financial LLC

Key Points

• Vest Financial LLC increased its holdings in Weatherford International PLC by 127.5% during the second quarter, acquiring an additional 31,150 shares for a total of 55,587 shares valued at approximately $2.8 million.
• Weatherford International reported quarterly earnings of $1.87 EPS, substantially exceeding the consensus estimate of $0.97 EPS, although revenue declined 14.3% year-over-year.
• The company has received positive ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $94.90.

Vest Financial LLC increased its holdings in shares of Weatherford International PLC (NASDAQ:WFRD - Free Report) by 127.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,587 shares of the company's stock after acquiring an additional 31,150 shares during the period. Vest Financial LLC owned approximately 0.08% of Weatherford International worth $2,797,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC grew its holdings in Weatherford International by 337.7% during the second quarter. CWM LLC now owns 6,657 shares of the company's stock worth $335,000 after acquiring an additional 5,136 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Weatherford International by 177.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,129 shares of the company's stock worth $1,013,000 after acquiring an additional 12,867 shares during the period. 1858 Wealth Management LLC purchased a new stake in Weatherford International during the second quarter worth $217,000. Blue Trust Inc. boosted its position in Weatherford International by 34.8% during the second quarter. Blue Trust Inc. now owns 2,601 shares of the company's stock worth $131,000 after purchasing an additional 672 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in Weatherford International by 14.2% during the second quarter. IFP Advisors Inc now owns 1,500 shares of the company's stock worth $75,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. BMO Capital Markets assumed coverage on Weatherford International in a research report on Friday, October 10th. They set an "outperform" rating and a $82.00 target price on the stock. Barclays decreased their target price on Weatherford International from $77.00 to $73.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Zacks Research upgraded Weatherford International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Piper Sandler upgraded Weatherford International from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Weatherford International in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Weatherford International presently has a consensus rating of "Moderate Buy" and an average target price of $94.90.

Weatherford International Stock Up 0.5%

Shares of NASDAQ:WFRD opened at $63.33 on Wednesday. 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 PLC has a 52-week low of $36.74 and a 52-week high of $92.69. The stock's fifty day simple moving average is $62.38 and its 200-day simple moving average is $53.69. The company has a market capitalization of $4.55 billion, a P/E ratio of 9.80, a P/E/G ratio of 1.72 and a beta of 0.79.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) 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 business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business earned $1.66 earnings per share. The business's revenue was down 14.3% on a year-over-year basis. As a group, equities research analysts forecast that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Wednesday, August 6th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, August 6th. This represents a $1.00 annualized dividend and a yield of 1.6%. Weatherford International's dividend payout ratio is 15.48%.

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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