Weatherford International plc (NASDAQ:WFRD) Shares Bought by Fmr LLC

Fmr LLC grew its holdings in Weatherford International plc (NASDAQ:WFRD) by 36.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,573,003 shares of the company’s stock after buying an additional 959,783 shares during the quarter. Fmr LLC’s holdings in Weatherford International were worth $303,419,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Fifth Third Bancorp increased its stake in Weatherford International by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after buying an additional 85 shares in the last quarter. GAMMA Investing LLC boosted its stake in Weatherford International by 50.4% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after purchasing an additional 128 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Weatherford International by 20.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,063 shares of the company’s stock worth $129,000 after buying an additional 182 shares in the last quarter. KBC Group NV raised its position in shares of Weatherford International by 10.4% in the third quarter. KBC Group NV now owns 1,945 shares of the company’s stock valued at $165,000 after buying an additional 184 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Weatherford International by 26.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 949 shares of the company’s stock worth $116,000 after acquiring an additional 200 shares during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Stock Performance

Shares of Weatherford International stock opened at $82.30 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 0.70 and a beta of 0.60. The business has a 50-day moving average of $85.90 and a 200 day moving average of $103.42. Weatherford International plc has a 12 month low of $77.00 and a 12 month high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. 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 previous year, the business posted $1.66 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Weatherford International plc will post 6.85 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America cut their price objective on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 14th. Benchmark reiterated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a report on Thursday, October 24th. Citigroup decreased their price objective on Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Barclays reduced their price objective on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Evercore ISI decreased their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $147.29.

Insider Buying and Selling

In related news, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the transaction, the chief accounting officer now owns 11,680 shares in the company, valued at $932,764.80. The trade was a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

About Weatherford International

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.