Swiss National Bank Boosts Stock Position in Weatherford International plc (NASDAQ:WFRD)

Swiss National Bank increased its stake in Weatherford International plc (NASDAQ:WFRD) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,900 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Swiss National Bank owned about 0.20% of Weatherford International worth $12,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fifth Third Bancorp grew its holdings in Weatherford International by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after buying an additional 85 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Weatherford International by 8.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company’s stock valued at $188,000 after acquiring an additional 120 shares in the last quarter. GAMMA Investing LLC increased its holdings in Weatherford International by 50.4% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after acquiring an additional 128 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Weatherford International by 20.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,063 shares of the company’s stock worth $129,000 after purchasing an additional 182 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Weatherford International by 10.4% in the 3rd quarter. KBC Group NV now owns 1,945 shares of the company’s stock valued at $165,000 after purchasing an additional 184 shares during the period. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Price Performance

Shares of Weatherford International stock opened at $85.83 on Friday. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 0.71 and a beta of 0.60. The company has a fifty day moving average of $86.97 and a 200-day moving average of $104.69. Weatherford International plc has a 52-week low of $77.00 and a 52-week high of $135.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 earnings per share. Equities research analysts expect that Weatherford International plc will post 6.91 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. Weatherford International’s payout ratio is presently 14.04%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Bank of America dropped their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays decreased their price objective on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Finally, Evercore ISI decreased their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $147.29.

Insider Buying and Selling at Weatherford International

In related news, CAO Desmond J. Mills sold 6,531 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the transaction, the chief accounting officer now owns 11,680 shares in the company, valued at $932,764.80. This represents a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

About Weatherford International

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.