Weatherford International PLC $WFRD Stock: Vise Technologies Inc. Increases Stake

Vise Technologies Inc. raised its holdings in Weatherford International PLC (NASDAQ:WFRD) by 82.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,696 shares of the company’s stock after buying an additional 6,170 shares during the quarter. Vise Technologies Inc.’s holdings in Weatherford International were worth $1,078,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WFRD. First Trust Advisors LP lifted its holdings in shares of Weatherford International by 12.4% during the first quarter. First Trust Advisors LP now owns 1,760,467 shares of the company’s stock worth $166,505,000 after buying an additional 194,654 shares during the last quarter. Readystate Asset Management LP acquired a new stake in shares of Weatherford International in the second quarter worth $15,269,000. Bank of New York Mellon Corp grew its stake in shares of Weatherford International by 15.5% in the first quarter. Bank of New York Mellon Corp now owns 794,732 shares of the company’s stock worth $75,166,000 after acquiring an additional 106,716 shares during the last quarter. Sei Investments Co. increased its position in Weatherford International by 193.7% during the first quarter. Sei Investments Co. now owns 149,935 shares of the company’s stock worth $14,181,000 after acquiring an additional 98,882 shares during the period. Finally, Squarepoint Ops LLC increased its position in Weatherford International by 3,125.3% during the second quarter. Squarepoint Ops LLC now owns 71,731 shares of the company’s stock worth $5,846,000 after acquiring an additional 69,507 shares during the period. 97.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WFRD. Zacks Research raised shares of Weatherford International from a “strong sell” rating to a “hold” rating in a report on Friday, October 23rd. UBS Group decreased their price target on shares of Weatherford International from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Piper Sandler dropped their price objective on shares of Weatherford International from $118.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Citigroup cut their price objective on shares of Weatherford International from $112.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 26th. Finally, Barclays reduced their target price on shares of Weatherford International from $148.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.57.

Weatherford International Stock Performance

WFRD opened at $84.43 on Monday. The stock has a market cap of $6.12 billion, a PE ratio of 15.05, a P/E/G ratio of 1.43 and a beta of 0.83. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.61. Weatherford International PLC has a 1 year low of $68.49 and a 1 year high of $113.15. The stock’s 50 day simple moving average is $84.78 and its 200-day simple moving average is $92.87.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 20th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Weatherford International had a return on equity of 22.39% and a net margin of 8.64%. Weatherford International’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 earnings per share. Sell-side analysts forecast that Weatherford International PLC will post 5.57 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 6th will be issued a $0.2750 dividend. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 6th. Weatherford International’s payout ratio is 19.61%.

Weatherford International Company Profile

Weatherford International plc is an energy services company that provides equipment, technology and services to oil and natural gas operators. Its offerings support multiple stages of the well lifecycle, including drilling and construction, formation evaluation, completion, production and well intervention.

The company’s products and services include artificial-lift systems, drilling and well-construction technologies, completion tools, production optimization, and digital solutions for monitoring and managing operations.