Inceptionr LLC Takes Position in Weatherford International PLC $WFRD

Inceptionr LLC acquired a new position in shares of Weatherford International PLC (NASDAQ:WFRD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,920 shares of the company’s stock, valued at approximately $474,000.

A number of other hedge funds also recently modified their holdings of the business. Quent Capital LLC purchased a new stake in Weatherford International in the 3rd quarter worth about $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Weatherford International in the 2nd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC increased its holdings in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after buying an additional 253 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Weatherford International by 69.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock valued at $29,000 after purchasing an additional 240 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of Weatherford International in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Insider Transactions at Weatherford International

In related news, CEO Girish Saligram sold 100,000 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $105.50, for a total value of $10,550,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a report on Wednesday, January 21st. Zacks Research lowered Weatherford International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 14th. The Goldman Sachs Group lifted their price target on Weatherford International from $83.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. Citigroup increased their price objective on Weatherford International from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, Barclays lowered their price objective on shares of Weatherford International from $111.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.50.

Weatherford International Stock Up 0.2%

Shares of WFRD stock opened at $92.69 on Thursday. Weatherford International PLC has a one year low of $36.74 and a one year high of $110.57. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.19 and a quick ratio of 1.65. The stock has a fifty day moving average price of $94.77 and a 200 day moving average price of $78.81. The stock has a market cap of $6.65 billion, a P/E ratio of 15.63 and a beta of 0.78.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.49. Weatherford International had a net margin of 8.76% and a return on equity of 28.07%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted $1.50 EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. Analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 6th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, February 6th. This is an increase from Weatherford International’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 1.2%. Weatherford International’s payout ratio is presently 18.55%.

About Weatherford International

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.