Van ECK Associates Corp Lowers Stock Position in Weatherford International plc (NASDAQ:WFRD)

Van ECK Associates Corp lowered its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 13.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 830,959 shares of the company’s stock after selling 133,470 shares during the period. Van ECK Associates Corp owned 1.14% of Weatherford International worth $101,750,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFRD. Parallel Advisors LLC boosted its stake in shares of Weatherford International by 189.0% during the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after buying an additional 189 shares during the period. Quadrant Capital Group LLC lifted its position in 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 acquiring an additional 248 shares during the period. Transcendent Capital Group LLC purchased a new position in shares of Weatherford International in the 1st quarter valued at approximately $29,000. CWM LLC increased its holdings in shares of Weatherford International by 145.7% in the fourth quarter. CWM LLC now owns 312 shares of the company’s stock valued at $31,000 after purchasing an additional 185 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Weatherford International during the first quarter worth approximately $33,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Weatherford International Trading Up 0.2 %

NASDAQ:WFRD traded up $0.22 on Friday, reaching $104.94. The stock had a trading volume of 580,018 shares, compared to its average volume of 873,031. Weatherford International plc has a 12-month low of $82.16 and a 12-month high of $135.00. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 0.77 and a beta of 0.63. The firm’s fifty day moving average is $116.08 and its two-hundred day moving average is $115.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47.

Weatherford International (NASDAQ:WFRD) last announced 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). The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 EPS. Equities analysts expect that Weatherford International plc will post 6.82 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 13th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 13th. This represents a $1.00 annualized dividend and a yield of 0.95%. Weatherford International’s dividend payout ratio (DPR) is presently 16.18%.

Wall Street Analyst Weigh In

WFRD has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a report on Wednesday, July 24th. Bank of America boosted their target price on Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Barclays raised their price objective on shares of Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Raymond James dropped their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 25th. Finally, Citigroup initiated coverage on shares of Weatherford International in a research report on Tuesday, May 14th. They issued a “buy” rating and a $155.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $153.88.

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.