AGF Management Ltd. Buys New Stake in Weatherford International plc (NASDAQ:WFRD)

AGF Management Ltd. bought a new stake in Weatherford International plc (NASDAQ:WFRD) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 277,268 shares of the company’s stock, valued at approximately $33,951,000.

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC raised its position in Weatherford International by 189.0% during the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after acquiring an additional 189 shares during the period. Quadrant Capital Group LLC raised its position in Weatherford International by 539.1% during the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after acquiring an additional 248 shares during the period. Transcendent Capital Group LLC acquired a new position in Weatherford International during the first quarter worth $29,000. Fidelis Capital Partners LLC acquired a new position in Weatherford International during the first quarter worth $33,000. Finally, Rise Advisors LLC acquired a new position in Weatherford International during the first quarter worth $34,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Trading Up 2.1 %

Shares of WFRD opened at $89.70 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 1.31. Weatherford International plc has a 12-month low of $82.16 and a 12-month high of $135.00. The firm has a 50-day moving average price of $111.51 and a 200 day moving average price of $115.25. The firm has a market capitalization of $6.56 billion, a P/E ratio of 14.51, a P/E/G ratio of 0.64 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $1.12 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts forecast that Weatherford International plc will post 6.81 EPS for the current year.

Weatherford International Announces Dividend

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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Tuesday, August 13th. Weatherford International’s dividend payout ratio is currently 16.18%.

Analyst Ratings Changes

A number of research firms have weighed in on WFRD. Barclays upped their price objective on shares of Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Bank of America upped their target price on shares of Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Raymond James dropped their target price on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $155.00 target price on shares of Weatherford International in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Weatherford International has an average rating of “Buy” and a consensus price target of $153.88.

Insiders Place Their Bets

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.