Weatherford International plc (NASDAQ:WFRD) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 36.9% in the third quarter, HoldingsChannel.com reports. The firm owned 523 shares of the company’s stock after buying an additional 141 shares during the period. GAMMA Investing LLC’s holdings in Weatherford International were worth $44,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. First Hawaiian Bank purchased a new stake in Weatherford International during the 2nd quarter worth about $1,653,000. Allspring Global Investments Holdings LLC lifted its stake in Weatherford International by 669.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company’s stock valued at $1,872,000 after buying an additional 14,112 shares during the last quarter. Entropy Technologies LP grew its position in Weatherford International by 79.7% during the 1st quarter. Entropy Technologies LP now owns 11,985 shares of the company’s stock worth $1,383,000 after purchasing an additional 5,315 shares during the last quarter. Sei Investments Co. raised its stake in Weatherford International by 107.2% during the 1st quarter. Sei Investments Co. now owns 23,527 shares of the company’s stock valued at $2,715,000 after acquiring an additional 12,170 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Weatherford International by 2.9% in the 1st 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 during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Trading Up 0.1 %

Weatherford International stock opened at $91.76 on Friday. Weatherford International plc has a 12-month low of $82.16 and a 12-month high of $135.00. 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 has a market capitalization of $6.71 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 0.67 and a beta of 0.58. The firm has a 50 day simple moving average of $96.39 and a 200-day simple moving average of $111.57.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). The company had revenue of $1.41 billion for 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%. Weatherford International’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. As a group, equities research analysts expect that Weatherford International plc will post 6.72 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.09%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s payout ratio is 14.88%.

Insider Buying and Selling

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 shares were sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on WFRD. Raymond James lowered their price objective 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. Barclays reduced their target price on Weatherford International from $165.00 to $154.00 and set an “overweight” rating on the stock in a research report on Wednesday. Benchmark restated a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a report on Wednesday, July 24th. Bank of America dropped their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Citigroup dropped their price objective on Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Seven 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.com, the stock has a consensus rating of “Buy” and an average target price of $146.88.

Weatherford International Company 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.