Weatherford International PLC $WFRD Shares Purchased by Vise Technologies Inc.

Vise Technologies Inc. boosted its holdings in shares of Weatherford International PLC (NASDAQ:WFRD) by 82.0% in the third quarter, Holdings Channel reports. The firm owned 13,696 shares of the company’s stock after purchasing 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 reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in Weatherford International by 12.4% during the first quarter. First Trust Advisors LP now owns 1,760,467 shares of the company’s stock valued at $166,505,000 after purchasing an additional 194,654 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Weatherford International by 15.5% in the 1st quarter. Bank of New York Mellon Corp now owns 794,732 shares of the company’s stock worth $75,166,000 after buying an additional 106,716 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of Weatherford International in the 2nd quarter worth approximately $15,269,000. California Public Employees Retirement System lifted its position in shares of Weatherford International by 13.8% during the 1st quarter. California Public Employees Retirement System now owns 171,477 shares of the company’s stock worth $16,218,000 after buying an additional 20,803 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Weatherford International by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 160,161 shares of the company’s stock worth $15,148,000 after buying an additional 5,865 shares during the period. Institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

NASDAQ WFRD opened at $84.43 on Monday. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.43 and a beta of 0.83. The company has a 50 day moving average of $84.78 and a 200-day moving average of $92.87. 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.

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

Weatherford International Dividend Announcement

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

Analyst Ratings Changes

WFRD has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price target on Weatherford International from $124.00 to $123.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Weiss Ratings upgraded Weatherford International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 27th. Zacks Research raised Weatherford International from a “strong sell” rating to a “hold” rating in a report on Friday, October 23rd. Barclays reduced their target price on shares of Weatherford International from $148.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Finally, Piper Sandler reduced their target price on shares of Weatherford International from $118.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.57.

About Weatherford International

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.