Envestnet Asset Management Inc. Has $13.50 Million Position in Weatherford International plc (NASDAQ:WFRD)

Envestnet Asset Management Inc. boosted its position in Weatherford International plc (NASDAQ:WFRD) by 145.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 110,268 shares of the company’s stock after acquiring an additional 65,379 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Weatherford International were worth $13,502,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Weatherford International by 0.7% during the first quarter. Vanguard Group Inc. now owns 7,599,657 shares of the company’s stock valued at $877,152,000 after purchasing an additional 53,017 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Weatherford International by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,409,020 shares of the company’s stock valued at $739,730,000 after buying an additional 182,120 shares during the period. Boston Partners increased its holdings in Weatherford International by 19.3% during the first quarter. Boston Partners now owns 2,722,281 shares of the company’s stock worth $315,240,000 after buying an additional 439,700 shares during the last quarter. Greenlight Capital Inc. raised its position in Weatherford International by 6.2% in the fourth quarter. Greenlight Capital Inc. now owns 456,605 shares of the company’s stock worth $44,670,000 after acquiring an additional 26,550 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in Weatherford International in the second quarter valued at about $51,287,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Price Performance

Shares of Weatherford International stock opened at $87.12 on Thursday. The firm has a market cap of $6.37 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.69 and a beta of 0.61. Weatherford International plc has a 12-month low of $82.16 and a 12-month high of $135.00. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. The company’s fifty day simple moving average is $104.81 and its two-hundred day simple moving average is $114.32.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings results 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). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. Weatherford International’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $1.12 EPS. As a group, equities analysts expect that Weatherford International plc will post 6.81 EPS for the current year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s payout ratio is 16.18%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research note on Wednesday, July 24th. 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 price objective 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. Barclays lifted their price target on Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Citigroup dropped their price target on Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $150.75.

Insider Activity at Weatherford International

In related news, EVP David John Reed sold 6,805 shares of Weatherford International 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate 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.