Rhumbline Advisers Lowers Position in Weatherford International plc (NASDAQ:WFRD)

Rhumbline Advisers lessened its holdings in Weatherford International plc (NASDAQ:WFRD) by 6.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 207,158 shares of the company’s stock after selling 15,319 shares during the period. Rhumbline Advisers owned 0.28% of Weatherford International worth $25,366,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Weatherford International by 0.7% in the first quarter. Vanguard Group Inc. now owns 7,599,657 shares of the company’s stock worth $877,152,000 after buying an additional 53,017 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 purchasing an additional 182,120 shares in the last quarter. Boston Partners raised its position in Weatherford International by 19.3% during the first quarter. Boston Partners now owns 2,722,281 shares of the company’s stock valued at $315,240,000 after purchasing an additional 439,700 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Weatherford International by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,124,495 shares of the company’s stock valued at $110,013,000 after purchasing an additional 126,482 shares in the last quarter. Finally, Norges Bank purchased a new stake in Weatherford International during the fourth quarter valued at about $89,762,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Down 3.5 %

WFRD opened at $90.05 on Friday. 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 has a market cap of $6.59 billion, a P/E ratio of 14.57, a P/E/G ratio of 0.68 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 business’s 50-day moving average price is $113.58 and its 200-day moving average price is $115.59.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.08). The business 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%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. On average, equities analysts expect that Weatherford International plc will post 6.81 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. Weatherford International’s payout ratio is presently 16.18%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Benchmark restated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Wednesday, July 24th. Barclays raised 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. Raymond James lowered their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Citigroup started coverage on Weatherford International in a research report on Tuesday, May 14th. They set a “buy” rating and a $155.00 price target on the stock. Finally, Bank of America lifted their price objective on Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock 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.