William Blair Investment Management LLC Has $37.63 Million Position in Weatherford International PLC $WFRD

William Blair Investment Management LLC increased its position in Weatherford International PLC (NASDAQ:WFRD) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 747,962 shares of the company’s stock after buying an additional 21,558 shares during the period. William Blair Investment Management LLC owned 1.04% of Weatherford International worth $37,630,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFRD. GAMMA Investing LLC grew its holdings in Weatherford International by 55.8% during the first quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock valued at $35,000 after purchasing an additional 231 shares during the last quarter. SG Americas Securities LLC grew its holdings in Weatherford International by 46.0% during the first quarter. SG Americas Securities LLC now owns 7,709 shares of the company’s stock valued at $413,000 after purchasing an additional 2,428 shares during the last quarter. Fifth Third Bancorp grew its holdings in Weatherford International by 546.7% during the first quarter. Fifth Third Bancorp now owns 595 shares of the company’s stock valued at $32,000 after purchasing an additional 503 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Weatherford International by 634.2% during the first quarter. Exchange Traded Concepts LLC now owns 4,794 shares of the company’s stock valued at $257,000 after purchasing an additional 4,141 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Weatherford International during the first quarter valued at approximately $445,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Wall Street Analyst Weigh In

WFRD has been the topic of several analyst reports. Melius Research initiated coverage on Weatherford International in a report on Wednesday, August 20th. They set a “buy” rating and a $108.00 price target on the stock. Zacks Research upgraded Weatherford International from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, October 8th. Barclays reduced their price objective on Weatherford International from $77.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $70.00 price objective (up from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.50.

Weatherford International Stock Down 1.2%

Shares of WFRD stock opened at $62.29 on Friday. The stock has a market cap of $4.47 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 1.62 and a beta of 0.79. Weatherford International PLC has a one year low of $36.74 and a one year high of $91.82. The stock has a fifty day moving average price of $62.83 and a 200 day moving average price of $53.88. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $0.97 by $0.90. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%.Weatherford International’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period last year, the business earned $1.66 earnings per share. Analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current year.

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.