Weatherford International plc (NASDAQ:WFRD) Stake Raised by State Street Corp

State Street Corp increased its holdings in Weatherford International plc (NASDAQ:WFRD) by 3.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,267,484 shares of the company’s stock after purchasing an additional 68,553 shares during the quarter. State Street Corp’s holdings in Weatherford International were worth $192,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Weatherford International by 36.7% in the third quarter. FMR LLC now owns 3,573,003 shares of the company’s stock worth $303,419,000 after purchasing an additional 959,783 shares in the last quarter. Pacer Advisors Inc. grew its position in Weatherford International by 551.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company’s stock valued at $122,356,000 after buying an additional 1,219,553 shares in the last quarter. Jennison Associates LLC grew its position in Weatherford International by 30.6% in the 3rd quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after buying an additional 310,259 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Weatherford International by 6.2% during the 2nd quarter. Renaissance Technologies LLC now owns 657,953 shares of the company’s stock worth $80,566,000 after buying an additional 38,700 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Weatherford International by 33.0% in the 2nd quarter. Millennium Management LLC now owns 631,862 shares of the company’s stock worth $77,372,000 after acquiring an additional 156,756 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Price Performance

WFRD stock opened at $78.04 on Friday. Weatherford International plc has a one year low of $76.39 and a one year high of $135.00. The firm has a 50-day moving average of $84.53 and a two-hundred day moving average of $100.88. The firm has a market capitalization of $5.67 billion, a PE ratio of 10.96, a P/E/G ratio of 0.65 and a beta of 0.58. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business posted $1.66 EPS. The company’s revenue was up 7.3% on a year-over-year basis. On average, analysts forecast that Weatherford International plc will post 6.85 earnings per share for the current year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. Weatherford International’s dividend payout ratio is 14.04%.

Analysts Set New Price Targets

A number of research firms have weighed in on WFRD. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Barclays lowered their target price on Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Citigroup cut their price target on shares of Weatherford International from $115.00 to $110.00 and set a “buy” rating for the company in a report on Monday. Evercore ISI lowered their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Bank of America cut their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $146.57.

Insider Activity at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by insiders.

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.