Commonwealth Equity Services LLC Increases Position in Weatherford International plc (NASDAQ:WFRD)

Commonwealth Equity Services LLC grew its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 29.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,879 shares of the company’s stock after acquiring an additional 651 shares during the period. Commonwealth Equity Services LLC’s holdings in Weatherford International were worth $353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in Weatherford International in the first quarter worth $29,000. Fidelis Capital Partners LLC acquired a new position in shares of Weatherford International in the first quarter worth about $33,000. Parallel Advisors LLC raised its position in shares of Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after acquiring an additional 189 shares during the period. Rise Advisors LLC acquired a new position in shares of Weatherford International during the 1st quarter worth about $34,000. Finally, Quadrant Capital Group LLC raised its position in shares of Weatherford International by 539.1% during the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Up 0.3 %

Shares of Weatherford International stock opened at $96.04 on Tuesday. The company has a market capitalization of $7.03 billion, a P/E ratio of 15.54, a PEG ratio of 0.66 and a beta of 0.61. The company’s fifty day moving average is $106.44 and its two-hundred day moving average is $114.61. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.47 and a current ratio of 1.99. Weatherford International plc has a 1 year low of $82.16 and a 1 year high of $135.00.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). The company had revenue of $1.41 billion for 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 firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 EPS. Analysts forecast that Weatherford International plc will post 6.81 earnings per share for the current year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s payout ratio is currently 16.18%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, EVP David John Reed sold 6,805 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.

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.