Commonwealth Equity Services LLC Grows Position in Weatherford International plc (NASDAQ:WFRD)

Commonwealth Equity Services LLC grew its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 29.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,879 shares of the company’s stock after purchasing an additional 651 shares during the period. Commonwealth Equity Services LLC’s holdings in Weatherford International were worth $353,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of Weatherford International by 31.0% in the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after purchasing an additional 85 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in Weatherford International by 8.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company’s stock valued at $188,000 after buying an additional 120 shares in the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of Weatherford International by 1.1% in the 1st quarter. Oliver Luxxe Assets LLC now owns 11,324 shares of the company’s stock worth $1,307,000 after purchasing an additional 125 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Weatherford International by 50.4% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after purchasing an additional 128 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Weatherford International by 23.4% in the 1st quarter. Covestor Ltd now owns 918 shares of the company’s stock worth $106,000 after purchasing an additional 174 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP David John Reed sold 6,805 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Weatherford International Stock Up 0.3 %

Shares of NASDAQ:WFRD opened at $96.04 on Tuesday. Weatherford International plc has a 52 week low of $82.16 and a 52 week high of $135.00. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.47 and a current ratio of 1.99. The company’s fifty day moving average is $106.44 and its 200-day moving average is $114.61. The company has a market capitalization of $7.03 billion, a PE ratio of 15.54, a P/E/G ratio of 0.66 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.08). The firm 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 firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 EPS. Equities research analysts predict that Weatherford International plc will post 6.81 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Weatherford International’s dividend payout ratio (DPR) is currently 16.18%.

Wall Street Analysts Forecast Growth

WFRD has been the topic of several analyst reports. Benchmark reissued a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research report on Wednesday, July 24th. Barclays raised their price target on shares of Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Bank of America lifted their target price on shares of Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Raymond James reduced their price objective on shares of 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. Seven 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.com, the company presently has an average rating of “Buy” and a consensus price target of $153.88.

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.