Driehaus Capital Management LLC Has $46.88 Million Holdings in Weatherford International plc (NASDAQ:WFRD)

Driehaus Capital Management LLC cut its stake in Weatherford International plc (NASDAQ:WFRD) by 22.1% in the second quarter, HoldingsChannel reports. The fund owned 382,811 shares of the company’s stock after selling 108,598 shares during the period. Driehaus Capital Management LLC’s holdings in Weatherford International were worth $46,875,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Parallel Advisors LLC raised its holdings in Weatherford International by 189.0% during the 4th quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Weatherford International during the 1st quarter worth approximately $29,000. Fidelis Capital Partners LLC bought a new stake in shares of Weatherford International during the first quarter worth approximately $33,000. Rise Advisors LLC acquired a new position in Weatherford International in the first quarter valued at approximately $34,000. Finally, Fifth Third Bancorp boosted its stake in 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 acquiring an additional 85 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on WFRD shares. Barclays upped their target price on shares of Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a report on Wednesday, July 24th. Raymond James reduced their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Bank of America upped their price target on Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Citigroup cut their price target on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $150.75.

Weatherford International Trading Up 1.3 %

NASDAQ WFRD opened at $85.17 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. The stock’s 50-day moving average is $102.98 and its 200-day moving average is $113.93. Weatherford International plc has a one year low of $82.16 and a one year high of $135.00. The firm has a market cap of $6.23 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.67 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD) last announced its quarterly 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). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $1.12 EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts anticipate that Weatherford International plc will post 6.81 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s payout ratio is presently 16.18%.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

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.