Weatherford International PLC $WFRD Holdings Increased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its position in Weatherford International PLC (NASDAQ:WFRD) by 43.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 237,084 shares of the company’s stock after purchasing an additional 72,192 shares during the quarter. Retirement Systems of Alabama’s holdings in Weatherford International were worth $18,654,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in Weatherford International by 12.4% in the 1st 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. Readystate Asset Management LP purchased a new stake in shares of Weatherford International during the second quarter worth $15,269,000. Bank of New York Mellon Corp grew its holdings in shares of Weatherford International by 15.5% during the first 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. Sei Investments Co. raised its position in shares of Weatherford International by 193.7% in the first quarter. Sei Investments Co. now owns 149,935 shares of the company’s stock valued at $14,181,000 after buying an additional 98,882 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Weatherford International by 3,125.3% in the second quarter. Squarepoint Ops LLC now owns 71,731 shares of the company’s stock valued at $5,846,000 after buying an additional 69,507 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Performance

Shares of Weatherford International stock opened at $86.69 on Thursday. The business’s 50 day moving average price is $84.18 and its 200 day moving average price is $92.81. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.43 and a beta of 0.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.52 and a current ratio of 2.04. Weatherford International PLC has a one year low of $68.49 and a one year high of $113.15.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 20th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 22.39% and a net margin of 8.64%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.12 EPS. On average, research analysts predict that Weatherford International PLC will post 5.57 EPS for the current year.

Weatherford International Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays decreased their price target 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. Piper Sandler lowered their price target on shares of Weatherford International from $118.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Zacks Research raised shares of Weatherford International from a “strong sell” rating to a “hold” rating in a research note on Friday, October 23rd. The Goldman Sachs Group cut their price objective on shares of Weatherford International from $106.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Finally, Weiss Ratings upgraded shares of Weatherford International from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 27th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Weatherford International has a consensus rating of “Moderate Buy” and a consensus price target of $115.57.

Weatherford International Company Profile

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.