Praxis Investment Management Inc. Purchases New Position in Weatherford International PLC $WFRD

Praxis Investment Management Inc. purchased a new stake in shares of Weatherford International PLC (NASDAQ:WFRD) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,840 shares of the company’s stock, valued at approximately $244,000.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Weatherford International by 1,002.0% during the 1st quarter. Signaturefd LLC now owns 1,091 shares of the company’s stock valued at $58,000 after buying an additional 992 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Weatherford International during the 1st quarter valued at approximately $445,000. Algert Global LLC purchased a new stake in shares of Weatherford International during the 1st quarter valued at approximately $522,000. GAMMA Investing LLC lifted its stake in shares of Weatherford International by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock valued at $35,000 after buying an additional 231 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of Weatherford International during the 1st quarter valued at approximately $419,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, October 8th. Barclays lowered their target price on shares of Weatherford International from $77.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, July 24th. BMO Capital Markets assumed coverage on shares of Weatherford International in a research note on Friday, October 10th. They issued an “outperform” rating and a $82.00 target price on the stock. Piper Sandler increased their target price on shares of Weatherford International from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Melius assumed coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They issued a “buy” rating and a $108.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Weatherford International presently has an average rating of “Moderate Buy” and an average price target of $95.50.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $62.29 on Monday. The company’s fifty day moving average price is $62.83 and its 200-day moving average price is $53.94. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 1.62 and a beta of 0.79. Weatherford International PLC has a one year low of $36.74 and a one year high of $91.82. 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 (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.66 EPS. On average, equities research analysts anticipate that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

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.