Weatherford International plc (NASDAQ:WFRD) Stock Holdings Trimmed by Driehaus Capital Management LLC

Driehaus Capital Management LLC decreased its holdings in Weatherford International plc (NASDAQ:WFRD) by 22.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 382,811 shares of the company’s stock after selling 108,598 shares during the quarter. Driehaus Capital Management LLC owned 0.52% of Weatherford International worth $46,875,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp increased its position in shares of 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 purchasing an additional 85 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in Weatherford International by 8.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company’s stock worth $188,000 after acquiring an additional 120 shares in the last quarter. Oliver Luxxe Assets LLC lifted its holdings in Weatherford International by 1.1% in the 1st quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock valued at $1,307,000 after acquiring an additional 125 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Weatherford International by 50.4% during 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. Finally, Covestor Ltd grew its stake in shares of Weatherford International by 23.4% in the 1st quarter. Covestor Ltd now owns 918 shares of the company’s stock worth $106,000 after purchasing an additional 174 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Insider Transactions at Weatherford International

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Raymond James reduced their price objective on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. Citigroup decreased their price target on Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday. Barclays boosted their price objective on Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Benchmark reiterated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Wednesday, July 24th. Finally, Bank of America boosted their price target on shares of Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $150.75.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $85.17 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average price of $102.98 and a 200 day moving average price of $113.93. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.67 and a beta of 0.61. 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 results on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.08). The company had revenue of $1.41 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 earnings per share. Research analysts predict that Weatherford International plc will post 6.81 earnings per share for the current year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 13th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s dividend payout ratio is 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.