1858 Wealth Management LLC Acquires New Position in Weatherford International PLC $WFRD

1858 Wealth Management LLC bought a new position in shares of Weatherford International PLC (NASDAQ:WFRD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,312 shares of the company’s stock, valued at approximately $217,000.

Several other institutional investors have also modified their holdings of WFRD. Vanguard Group Inc. boosted its holdings in Weatherford International by 4.5% in the first quarter. Vanguard Group Inc. now owns 8,050,495 shares of the company’s stock valued at $431,104,000 after purchasing an additional 347,584 shares during the period. Invesco Ltd. boosted its stake in shares of Weatherford International by 2.0% in the 1st quarter. Invesco Ltd. now owns 1,485,746 shares of the company’s stock valued at $79,562,000 after buying an additional 29,840 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in shares of Weatherford International by 13.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,474,131 shares of the company’s stock worth $78,940,000 after buying an additional 171,124 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Weatherford International by 67.1% during the first quarter. Bank of New York Mellon Corp now owns 1,201,544 shares of the company’s stock worth $64,343,000 after buying an additional 482,352 shares during the period. Finally, Millennium Management LLC raised its holdings in Weatherford International by 429.2% in the first quarter. Millennium Management LLC now owns 1,103,067 shares of the company’s stock valued at $59,069,000 after acquiring an additional 894,636 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on WFRD shares. Piper Sandler upgraded shares of Weatherford International from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $62.00 to $73.00 in a report on Monday, July 28th. Raymond James Financial reiterated an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Weatherford International in a research note on Thursday, July 24th. Melius Research started coverage on Weatherford International in a research note on Wednesday, August 20th. They issued a “buy” rating and a $108.00 price target on the stock. BMO Capital Markets initiated coverage on Weatherford International in a report on Friday. They set an “outperform” rating and a $82.00 price target for the company. Finally, Melius started coverage on Weatherford International in a report on Wednesday, August 20th. They issued a “buy” rating and a $108.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Weatherford International has an average rating of “Moderate Buy” and a consensus target price of $98.09.

Weatherford International Stock Down 4.5%

WFRD stock opened at $61.45 on Friday. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a fifty day moving average price of $62.12 and a 200 day moving average price of $53.56. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63. Weatherford International PLC has a 12 month low of $36.74 and a 12 month high of $95.58.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $1.66 earnings per share. Weatherford International’s quarterly revenue was down 14.3% on a year-over-year basis. Sell-side analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, August 6th. Weatherford International’s dividend payout ratio (DPR) is presently 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.