New York State Teachers Retirement System Buys 1,374 Shares of Weatherford International PLC (NASDAQ:WFRD)

New York State Teachers Retirement System grew its holdings in Weatherford International PLC (NASDAQ:WFRD) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,486 shares of the company’s stock after acquiring an additional 1,374 shares during the period. New York State Teachers Retirement System owned 0.10% of Weatherford International worth $3,828,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC raised its position in Weatherford International by 130.8% in the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock worth $26,000 after acquiring an additional 204 shares during the period. Huntington National Bank raised its position in Weatherford International by 190.4% in the fourth quarter. Huntington National Bank now owns 392 shares of the company’s stock worth $28,000 after acquiring an additional 257 shares during the period. Zions Bancorporation N.A. bought a new position in Weatherford International in the fourth quarter worth approximately $29,000. Fifth Third Bancorp raised its position in Weatherford International by 546.7% in the first quarter. Fifth Third Bancorp now owns 595 shares of the company’s stock worth $32,000 after acquiring an additional 503 shares during the period. Finally, GAMMA Investing LLC raised its position in Weatherford International by 55.8% in the first quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock worth $35,000 after acquiring an additional 231 shares during the period. 97.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Piper Sandler decreased their price target on shares of Weatherford International from $80.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Citigroup decreased their price target on shares of Weatherford International from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial downgraded shares of Weatherford International from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $73.00 to $69.00 in a research report on Thursday, April 24th. Finally, Barclays reduced their price objective on shares of Weatherford International from $85.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.63.

Insiders Place Their Bets

In related news, Director Neal P. Goldman bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average cost of $42.04 per share, with a total value of $504,480.00. Following the completion of the purchase, the director owned 25,311 shares of the company’s stock, valued at approximately $1,064,074.44. The trade was a 90.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Weatherford International Stock Performance

Shares of NASDAQ WFRD opened at $54.18 on Monday. The firm has a fifty day moving average price of $47.94 and a 200-day moving average price of $55.71. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.08 and a quick ratio of 1.52. The stock has a market cap of $3.93 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 1.54 and a beta of 0.76. Weatherford International PLC has a 1 year low of $36.74 and a 1 year high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Weatherford International had a net margin of 8.79% and a return on equity of 35.88%. Equities analysts anticipate that Weatherford International PLC will post 5.89 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Tuesday, May 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.00 annualized dividend and a yield of 1.85%. Weatherford International’s payout ratio is 16.00%.

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.