Raymond James & Associates Has $11.89 Million Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Raymond James & Associates grew its position in shares of Weatherford International plc (NASDAQ:WFRD) by 25.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,101 shares of the company’s stock after buying an additional 19,853 shares during the period. Raymond James & Associates’ holdings in Weatherford International were worth $11,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WFRD. Oakworth Capital Inc. bought a new position in Weatherford International during the second quarter worth about $223,000. Portside Wealth Group LLC bought a new position in shares of Weatherford International during the second quarter worth approximately $364,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Weatherford International by 238.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,040 shares of the company’s stock valued at $740,000 after buying an additional 4,254 shares in the last quarter. Canandaigua National Bank & Trust Co. bought a new stake in shares of Weatherford International in the second quarter valued at approximately $294,000. Finally, CWM LLC grew its position in Weatherford International by 74.1% during the second quarter. CWM LLC now owns 552 shares of the company’s stock worth $68,000 after buying an additional 235 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Trading Up 3.6 %

WFRD opened at $108.01 on Friday. The company has a market cap of $7.90 billion, a P/E ratio of 17.48, a PEG ratio of 0.74 and a beta of 0.63. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 1.31. The company’s 50 day moving average is $117.01 and its 200-day moving average is $115.22. Weatherford International plc has a 1-year low of $82.16 and a 1-year high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). The company had revenue of $1.41 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $1.12 EPS. Equities research analysts predict that Weatherford International plc will post 6.82 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Tuesday, August 13th. Weatherford International’s dividend payout ratio (DPR) is 16.18%.

Analyst Ratings Changes

Several equities analysts have weighed in on WFRD shares. Barclays lifted their price objective on Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a report 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 note on Thursday, July 25th. Citigroup started coverage on shares of Weatherford International in a research report on Tuesday, May 14th. They set a “buy” rating and a $155.00 price objective for the company. Bank of America boosted their target price on shares of Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $153.88.

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.