Dynamic Technology Lab Private Ltd Increases Position in Weatherford International plc (NASDAQ:WFRD)

Dynamic Technology Lab Private Ltd increased its holdings in Weatherford International plc (NASDAQ:WFRD) by 1,138.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,124 shares of the company’s stock after acquiring an additional 29,530 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Weatherford International were worth $2,728,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFRD. Fifth Third Bancorp boosted its stake in Weatherford International by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after acquiring an additional 85 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Weatherford International by 50.4% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $47,000 after purchasing an additional 128 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Weatherford International by 20.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,063 shares of the company’s stock worth $129,000 after purchasing an additional 182 shares during the last quarter. KBC Group NV grew its stake in Weatherford International by 10.4% in the third quarter. KBC Group NV now owns 1,945 shares of the company’s stock worth $165,000 after purchasing an additional 184 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Weatherford International by 26.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 949 shares of the company’s stock valued at $116,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

Shares of NASDAQ WFRD opened at $85.83 on Monday. The stock’s fifty day simple moving average is $86.97 and its 200 day simple moving average is $104.57. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.72 and a beta of 0.60. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. Weatherford International plc has a 52-week low of $77.00 and a 52-week high of $135.00.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. As a group, sell-side analysts forecast that Weatherford International plc will post 6.91 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Wednesday, November 6th. Weatherford International’s dividend payout ratio is 14.04%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Evercore ISI dropped their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Citigroup dropped their target price on shares of Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Barclays decreased their price target on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Weatherford International 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 on the stock in a report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Weatherford International presently has a consensus rating of “Buy” and a consensus price target of $147.29.

Insiders Place Their Bets

In related news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. This represents a 35.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.