Weatherford International plc (NASDAQ:WFRD) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC raised its holdings in Weatherford International plc (NASDAQ:WFRD) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,881 shares of the company’s stock after acquiring an additional 6,165 shares during the period. AQR Capital Management LLC owned approximately 0.13% of Weatherford International worth $11,373,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Merewether Investment Management LP increased its holdings in shares of Weatherford International by 38.8% in the second quarter. Merewether Investment Management LP now owns 549,803 shares of the company’s stock valued at $67,323,000 after purchasing an additional 153,800 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Weatherford International in the 2nd quarter valued at $7,466,000. Fred Alger Management LLC acquired a new stake in shares of Weatherford International in the 2nd quarter worth $82,000. Zurich Insurance Group Ltd FI raised its holdings in shares of Weatherford International by 40.5% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 347,135 shares of the company’s stock worth $42,507,000 after acquiring an additional 100,142 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Weatherford International by 3,924.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 116,700 shares of the company’s stock worth $14,290,000 after acquiring an additional 113,800 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Weatherford International Stock Up 2.4 %

Shares of NASDAQ WFRD opened at $86.97 on Wednesday. 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’s 50 day moving average is $101.10 and its two-hundred day moving average is $113.58. Weatherford International plc has a 52-week low of $82.16 and a 52-week high of $135.00. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.61 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data 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). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm posted $1.12 EPS. Weatherford International’s quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts predict that Weatherford International plc will post 6.81 EPS 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 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Tuesday, August 13th. Weatherford International’s payout ratio is 16.18%.

Analyst Upgrades and Downgrades

WFRD has been the subject of several recent analyst reports. Barclays raised 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. Raymond James cut their price target on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Citigroup decreased their price objective on Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Benchmark reissued a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research note on Wednesday, July 24th. Finally, Bank of America upped their price target on Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $150.75.

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.