Envestnet Asset Management Inc. Has $13.50 Million Holdings in Weatherford International plc (NASDAQ:WFRD)

Envestnet Asset Management Inc. grew its stake in Weatherford International plc (NASDAQ:WFRD) by 145.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,268 shares of the company’s stock after acquiring an additional 65,379 shares during the period. Envestnet Asset Management Inc. owned 0.15% of Weatherford International worth $13,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock valued at $28,000 after purchasing an additional 189 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Weatherford International by 539.1% in the fourth quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock valued at $29,000 after buying an additional 248 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Weatherford International in the first quarter valued at approximately $29,000. Fidelis Capital Partners LLC acquired a new position in shares of Weatherford International in the first quarter valued at approximately $33,000. Finally, Rise Advisors LLC acquired a new position in Weatherford International during the first quarter worth $34,000. 97.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WFRD. Citigroup reduced their target price on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America increased their price objective on shares of Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Weatherford International in a research report on Wednesday, July 24th. Barclays increased their price objective on shares of Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Raymond James dropped 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $150.75.

Weatherford International Trading Down 7.8 %

Shares of Weatherford International stock opened at $87.12 on Thursday. The firm’s 50-day moving average price is $104.81 and its two-hundred day moving average price is $114.32. Weatherford International plc has a 12-month low of $82.16 and a 12-month high of $135.00. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.69 and a beta of 0.61.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business posted $1.12 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts forecast that Weatherford International plc will post 6.81 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.00 annualized dividend and a yield of 1.15%. Weatherford International’s dividend payout ratio is presently 16.18%.

Insider Buying and Selling

In related news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.

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.