Public Employees Retirement System of Ohio Boosts Stake in Weatherford International PLC $WFRD

Public Employees Retirement System of Ohio raised its holdings in shares of Weatherford International PLC (NASDAQ:WFRD) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,933 shares of the company’s stock after buying an additional 273 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Weatherford International were worth $1,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WFRD. GAMMA Investing LLC boosted its holdings in shares of Weatherford International by 55.8% in the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock worth $35,000 after purchasing an additional 231 shares in the last quarter. State of Alaska Department of Revenue grew its position in Weatherford International by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 27,530 shares of the company’s stock worth $1,473,000 after acquiring an additional 245 shares during the last quarter. Covestor Ltd grew its position in Weatherford International by 34.3% during the 1st quarter. Covestor Ltd now owns 1,244 shares of the company’s stock worth $67,000 after acquiring an additional 318 shares during the last quarter. TD Private Client Wealth LLC grew its position in Weatherford International by 20.7% during the 1st quarter. TD Private Client Wealth LLC now owns 2,360 shares of the company’s stock worth $126,000 after acquiring an additional 404 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Weatherford International by 196.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 653 shares of the company’s stock worth $33,000 after acquiring an additional 433 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Stock Performance

WFRD stock opened at $65.64 on Friday. Weatherford International PLC has a 1 year low of $36.74 and a 1 year high of $95.58. The stock’s fifty day moving average price is $61.44 and its 200-day moving average price is $53.21. The company has a market cap of $4.71 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 1.79 and a beta of 0.79. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, July 22nd. The company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%.The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned $1.66 EPS. Weatherford International’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, equities analysts forecast that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. Weatherford International’s dividend payout ratio (DPR) is currently 15.48%.

Wall Street Analysts Forecast Growth

WFRD has been the topic of several analyst reports. Melius initiated coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They issued a “buy” rating and a $108.00 target price on the stock. Barclays decreased their target price on shares of Weatherford International from $77.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, July 24th. Piper Sandler raised shares of Weatherford International from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $62.00 to $73.00 in a research note on Monday, July 28th. Melius Research began coverage on shares of Weatherford International in a research note on Wednesday, August 20th. They issued a “buy” rating and a $108.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a research report on Saturday, September 27th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Weatherford International has an average rating of “Moderate Buy” and a consensus target price of $99.70.

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.