Hsbc Holdings PLC Grows Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Hsbc Holdings PLC increased its position in Weatherford International plc (NASDAQ:WFRD) by 2,374.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 43,871 shares of the company’s stock after buying an additional 42,098 shares during the period. Hsbc Holdings PLC owned about 0.06% of Weatherford International worth $5,420,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of WFRD. First Hawaiian Bank purchased a new position in shares of Weatherford International in the second quarter worth $1,653,000. Allspring Global Investments Holdings LLC lifted its stake in Weatherford International by 669.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company’s stock worth $1,872,000 after purchasing an additional 14,112 shares in the last quarter. Entropy Technologies LP lifted its stake in Weatherford International by 79.7% in the 1st quarter. Entropy Technologies LP now owns 11,985 shares of the company’s stock worth $1,383,000 after purchasing an additional 5,315 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Weatherford International by 107.2% during the 1st quarter. Sei Investments Co. now owns 23,527 shares of the company’s stock valued at $2,715,000 after purchasing an additional 12,170 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Weatherford International by 2.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,409,020 shares of the company’s stock worth $739,730,000 after purchasing an additional 182,120 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on WFRD shares. Barclays increased their price target on Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Wednesday, July 24th. Raymond James reduced their price target on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Finally, Bank of America increased their price objective on shares of Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $153.88.

Insider Activity at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

Weatherford International Trading Down 1.6 %

WFRD stock opened at $94.46 on Wednesday. The firm’s fifty day simple moving average is $105.64 and its two-hundred day simple moving average is $114.51. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 0.66 and a beta of 0.61. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. Weatherford International plc has a twelve month low of $82.16 and a twelve month high of $135.00.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $1.12 earnings per share. As a group, analysts anticipate that Weatherford International plc will post 6.81 earnings per share for the current year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Tuesday, August 13th. Weatherford International’s dividend payout ratio is currently 16.18%.

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.