Dorsey Wright & Associates Takes $4.25 Million Position in Weatherford International PLC $WFRD

Dorsey Wright & Associates purchased a new position in shares of Weatherford International PLC (NASDAQ:WFRD) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 44,903 shares of the company’s stock, valued at approximately $4,247,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its position in shares of Weatherford International by 4.2% during the fourth quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock worth $252,000 after purchasing an additional 130 shares during the period. EverSource Wealth Advisors LLC grew its position in Weatherford International by 24.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock valued at $55,000 after purchasing an additional 137 shares during the period. Corient Private Wealth LLC increased its stake in Weatherford International by 3.1% during the 4th quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock valued at $385,000 after purchasing an additional 146 shares in the last quarter. CWM LLC increased its stake in Weatherford International by 2.3% during the 4th quarter. CWM LLC now owns 7,711 shares of the company’s stock valued at $603,000 after purchasing an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Weatherford International by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock worth $25,000 after buying an additional 178 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

Weatherford International Trading Up 0.3%

Shares of WFRD stock opened at $80.70 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.31 and a debt-to-equity ratio of 0.83. The firm has a market cap of $5.79 billion, a P/E ratio of 12.63, a PEG ratio of 0.92 and a beta of 0.86. The company has a 50 day moving average of $95.54 and a 200-day moving average of $95.64. Weatherford International PLC has a 12-month low of $52.59 and a 12-month high of $113.15.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.02 by $0.47. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. Sell-side analysts anticipate that Weatherford International PLC will post 5.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WFRD. Raymond James Financial dropped their price target on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Piper Sandler boosted their price objective on Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Zacks Research downgraded Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings lowered Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Finally, Citigroup cut their target price on Weatherford International from $137.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $113.78.

Weatherford International Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.