21,000 Shares in Weatherford International plc (NASDAQ:WFRD) Purchased by Viking Fund Management LLC

Viking Fund Management LLC purchased a new stake in Weatherford International plc (NASDAQ:WFRD) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 21,000 shares of the company’s stock, valued at approximately $1,783,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake in shares of Weatherford International by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after acquiring an additional 85 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Weatherford International by 8.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company’s stock valued at $188,000 after purchasing an additional 120 shares during the period. Oliver Luxxe Assets LLC boosted its holdings in Weatherford International by 1.1% in the 1st quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock valued at $1,307,000 after purchasing an additional 125 shares in the last quarter. GAMMA Investing LLC increased its position in Weatherford International by 50.4% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after purchasing an additional 128 shares during the period. Finally, Covestor Ltd increased its position in Weatherford International by 23.4% during the 1st quarter. Covestor Ltd now owns 918 shares of the company’s stock worth $106,000 after purchasing an additional 174 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Price Performance

Shares of NASDAQ:WFRD traded up $0.54 during midday trading on Friday, hitting $94.33. 874,625 shares of the stock were exchanged, compared to its average volume of 1,044,325. Weatherford International plc has a twelve month low of $82.16 and a twelve month high of $135.00. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 1.31. The company has a 50 day moving average price of $97.29 and a 200-day moving average price of $112.21. The stock has a market cap of $6.90 billion, a P/E ratio of 14.04, a PEG ratio of 0.67 and a beta of 0.58.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The business’s revenue was up 10.3% on a year-over-year basis. On average, research analysts forecast that Weatherford International plc will post 6.81 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s payout ratio is currently 14.88%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WFRD shares. Raymond James decreased their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 25th. Barclays boosted their target price on shares of Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Wednesday, July 24th. Citigroup reduced their price objective on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Bank of America upped their target price on shares of Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Weatherford International currently has an average rating of “Buy” and an average price target of $150.75.

Insider Buying and Selling at Weatherford International

In related news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.

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.