Bank of New York Mellon Corp Lowers Holdings in Weatherford International PLC $WFRD

Bank of New York Mellon Corp trimmed its stake in shares of Weatherford International PLC (NASDAQ:WFRD) by 49.5% during the 2nd quarter, Holdings Channel reports. The fund owned 606,723 shares of the company’s stock after selling 594,821 shares during the quarter. Bank of New York Mellon Corp’s holdings in Weatherford International were worth $30,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. American National Bank & Trust boosted its position in Weatherford International by 2,392.0% in the 2nd quarter. American National Bank & Trust now owns 623 shares of the company’s stock worth $31,000 after purchasing an additional 598 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of Weatherford International by 30,600.0% in the 1st quarter. Brooklyn Investment Group now owns 614 shares of the company’s stock valued at $33,000 after purchasing an additional 612 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Weatherford International by 196.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 653 shares of the company’s stock worth $33,000 after buying an additional 433 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in Weatherford International during the second quarter valued at $43,000. Finally, GAMMA Investing LLC grew its position in Weatherford International by 66.0% during the second quarter. GAMMA Investing LLC now owns 1,071 shares of the company’s stock valued at $54,000 after buying an additional 426 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Price Performance

Shares of Weatherford International stock opened at $72.24 on Friday. The business has a 50 day simple moving average of $67.36 and a two-hundred day simple moving average of $57.65. Weatherford International PLC has a 12 month low of $36.74 and a 12 month high of $87.63. The stock has a market capitalization of $5.18 billion, a P/E ratio of 13.09, a PEG ratio of 1.84 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). Weatherford International had a return on equity of 28.28% and a net margin of 8.15%.The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $2.06 earnings per share. The business’s revenue was down 12.6% on a year-over-year basis. Weatherford International has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts predict that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. Weatherford International’s dividend payout ratio is presently 18.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WFRD shares. Melius began coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They issued a “buy” rating and a $108.00 price objective for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $70.00 price target (up previously from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Weatherford International in a report on Wednesday, October 8th. BMO Capital Markets started coverage on Weatherford International in a research report on Friday, October 10th. They issued an “outperform” rating and a $82.00 price objective for the company. Finally, Piper Sandler upped their target price on Weatherford International from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.56.

Weatherford International Company Profile

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.