Meeder Asset Management Inc. Has $896,000 Holdings in Weatherford International PLC $WFRD

Meeder Asset Management Inc. boosted its stake in Weatherford International PLC (NASDAQ:WFRD) by 267.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,477 shares of the company’s stock after purchasing an additional 6,900 shares during the quarter. Meeder Asset Management Inc.’s holdings in Weatherford International were worth $896,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in Weatherford International by 223.0% during the first quarter. Royal Bank of Canada now owns 122,662 shares of the company’s stock worth $6,568,000 after buying an additional 84,684 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Weatherford International by 129.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 143,703 shares of the company’s stock worth $7,695,000 after buying an additional 81,046 shares during the period. United Services Automobile Association bought a new stake in shares of Weatherford International in the 1st quarter valued at about $258,000. Cetera Investment Advisers increased its stake in shares of Weatherford International by 26.8% in the 2nd quarter. Cetera Investment Advisers now owns 12,764 shares of the company’s stock valued at $642,000 after acquiring an additional 2,695 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Weatherford International by 83.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Weatherford International from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Zacks Research downgraded shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Barclays cut their target price on shares of Weatherford International from $156.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Piper Sandler lifted their price target on shares of Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings lowered shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.78.

Weatherford International Price Performance

Shares of WFRD opened at $78.20 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. The stock has a 50 day simple moving average of $95.05 and a 200 day simple moving average of $95.76. Weatherford International PLC has a 52-week low of $52.70 and a 52-week high of $113.15. The firm has a market capitalization of $5.61 billion, a PE ratio of 12.24, a P/E/G ratio of 0.93 and a beta of 0.86.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, April 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.02 by $0.47. The firm 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 business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. Sell-side analysts predict that Weatherford International PLC will post 5.94 EPS for the current fiscal year.

About Weatherford International

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.