Bank of New York Mellon Corp Purchases 106,716 Shares of Weatherford International PLC $WFRD

Bank of New York Mellon Corp lifted its position in Weatherford International PLC (NASDAQ:WFRD) by 15.5% in the first quarter, HoldingsChannel.com reports. The firm owned 794,732 shares of the company’s stock after acquiring an additional 106,716 shares during the period. Bank of New York Mellon Corp’s holdings in Weatherford International were worth $75,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFRD. Goldman Sachs Group Inc. increased its stake in Weatherford International by 1,040.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,244,464 shares of the company’s stock valued at $97,392,000 after acquiring an additional 1,135,338 shares during the period. Deprince Race & Zollo Inc. raised its position in Weatherford International by 77.6% in the fourth quarter. Deprince Race & Zollo Inc. now owns 537,851 shares of the company’s stock worth $42,092,000 after purchasing an additional 234,989 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Weatherford International during the fourth quarter worth about $10,966,000. Massachusetts Financial Services Co. MA lifted its stake in Weatherford International by 34.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 71,747 shares of the company’s stock worth $5,615,000 after purchasing an additional 18,224 shares during the period. Finally, Oak Thistle LLC bought a new position in Weatherford International during the fourth quarter worth about $1,692,000. 97.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WFRD. Zacks Research lowered Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Wall Street Zen downgraded Weatherford International from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. UBS Group boosted their price target on Weatherford International from $105.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Barclays decreased their price target on Weatherford International from $156.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, Citigroup dropped their price objective on Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.78.

Weatherford International Price Performance

NASDAQ:WFRD opened at $83.32 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83. The firm has a market cap of $5.98 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.90 and a beta of 0.86. Weatherford International PLC has a 12 month low of $52.70 and a 12 month high of $113.15. The company’s 50-day moving average price is $94.57 and its two-hundred day moving average price is $95.79.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.35). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Weatherford International had a return on equity of 28.31% and a net margin of 9.49%.During the same period in the previous year, the business posted $1.87 EPS. On average, equities analysts anticipate that Weatherford International PLC will post 5.94 EPS for the current fiscal year.

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.