Oppenheimer Asset Management Inc. Purchases 14,699 Shares of Weatherford International plc (NASDAQ:WFRD)

Oppenheimer Asset Management Inc. grew its position in Weatherford International plc (NASDAQ:WFRD) by 440.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,037 shares of the company’s stock after purchasing an additional 14,699 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Weatherford International were worth $2,209,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. SCP Investment LP bought a new stake in Weatherford International during the fourth quarter valued at $360,000. Dimensional Fund Advisors LP boosted its position in shares of Weatherford International by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,124,495 shares of the company’s stock valued at $110,013,000 after purchasing an additional 126,482 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Weatherford International during the 4th quarter valued at about $518,000. Janney Montgomery Scott LLC acquired a new stake in Weatherford International during the fourth quarter worth approximately $497,000. Finally, Quadrant Capital Group LLC increased its holdings in Weatherford International by 539.1% in the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after purchasing an additional 248 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Trading Up 1.3 %

NASDAQ:WFRD opened at $93.90 on Wednesday. Weatherford International plc has a one year low of $82.16 and a one year high of $135.00. The company has a market cap of $6.87 billion, a PE ratio of 15.19, a PEG ratio of 0.64 and a beta of 0.61. 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 firm has a 50-day moving average of $109.09 and a 200-day moving average of $114.96.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.08). The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $1.12 earnings per share. As a group, equities research analysts expect that Weatherford International plc will post 6.81 EPS for the current fiscal year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.06%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s dividend payout ratio (DPR) is presently 16.18%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays increased their price target on Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. 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 lifted their price target on shares of Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Raymond James cut their price objective on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $153.88.

Insiders Place Their Bets

In other news, EVP David John Reed sold 6,805 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company’s stock.

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.