Leuthold Group LLC reduced its position in Weatherford International PLC (NASDAQ:WFRD – Free Report) by 57.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,555 shares of the company’s stock after selling 22,309 shares during the quarter. Leuthold Group LLC’s holdings in Weatherford International were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in WFRD. Squarepoint Ops LLC grew its stake in shares of Weatherford International by 3,125.3% during the 2nd quarter. Squarepoint Ops LLC now owns 71,731 shares of the company’s stock worth $5,846,000 after acquiring an additional 69,507 shares during the period. Baird Financial Group Inc. raised its stake in Weatherford International by 11.9% in the 2nd quarter. Baird Financial Group Inc. now owns 156,542 shares of the company’s stock valued at $12,758,000 after acquiring an additional 16,605 shares during the period. Readystate Asset Management LP bought a new stake in Weatherford International in the 2nd quarter valued at about $15,269,000. California Public Employees Retirement System lifted its holdings in Weatherford International by 13.8% during the first quarter. California Public Employees Retirement System now owns 171,477 shares of the company’s stock valued at $16,218,000 after purchasing an additional 20,803 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in Weatherford International by 19.3% during the second quarter. Tidal Investments LLC now owns 89,847 shares of the company’s stock valued at $7,323,000 after purchasing an additional 14,537 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
WFRD has been the subject of several recent research reports. Zacks Research upgraded shares of Weatherford International from a “strong sell” rating to a “hold” rating in a research note on Friday, October 23rd. Royal Bank Of Canada dropped their price target on shares of Weatherford International from $124.00 to $123.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. UBS Group cut their price objective on shares of Weatherford International from $116.00 to $111.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Barclays reduced their price objective on shares of Weatherford International from $148.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. Finally, Citigroup lowered their target price on shares of Weatherford International from $112.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.57.
Check Out Our Latest Analysis on WFRD
Weatherford International Price Performance
WFRD stock opened at $84.31 on Wednesday. The firm has a 50 day moving average of $84.34 and a 200-day moving average of $92.83. The firm has a market capitalization of $6.11 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.45 and a beta of 0.83. Weatherford International PLC has a 12 month low of $68.49 and a 12 month high of $113.15. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.61.
Weatherford International (NASDAQ:WFRD – Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. Weatherford International had a net margin of 8.64% and a return on equity of 22.39%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm posted $1.12 EPS. Weatherford International’s revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Weatherford International PLC will post 5.57 earnings per share for the current fiscal year.
Weatherford International Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 6th will be paid a dividend of $0.2750 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.10 annualized dividend and a yield of 1.3%. Weatherford International’s dividend payout ratio (DPR) is currently 19.61%.
Weatherford International Company Profile
Weatherford International plc is an energy services company that provides equipment, technology and services to oil and natural gas operators. Its offerings support multiple stages of the well lifecycle, including drilling and construction, formation evaluation, completion, production and well intervention. The company’s products and services include artificial-lift systems, drilling and well-construction technologies, completion tools, production optimization, and digital solutions for monitoring and managing operations.
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