Janney Montgomery Scott LLC Acquires 10,034 Shares of Weatherford International PLC $WFRD

Janney Montgomery Scott LLC grew its position in shares of Weatherford International PLC (NASDAQ:WFRD) by 120.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 18,344 shares of the company’s stock after acquiring an additional 10,034 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Weatherford International were worth $923,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WFRD. GAMMA Investing LLC boosted its position in shares of Weatherford International by 55.8% during the 1st quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock valued at $35,000 after acquiring an additional 231 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Weatherford International by 46.0% during the 1st quarter. SG Americas Securities LLC now owns 7,709 shares of the company’s stock valued at $413,000 after acquiring an additional 2,428 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Weatherford International by 546.7% during the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company’s stock valued at $32,000 after acquiring an additional 503 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Weatherford International by 634.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,794 shares of the company’s stock valued at $257,000 after acquiring an additional 4,141 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of 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 valued at $1,473,000 after acquiring an additional 245 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Stock Performance

Shares of Weatherford International stock opened at $63.33 on Wednesday. The firm has a market cap of $4.55 billion, a P/E ratio of 9.80, a P/E/G ratio of 1.72 and a beta of 0.79. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. Weatherford International PLC has a 12 month low of $36.74 and a 12 month high of $92.69. The stock’s fifty day moving average price is $62.38 and its 200-day moving average price is $53.69.

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

Weatherford International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, August 6th. Weatherford International’s payout ratio is 15.48%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WFRD. Piper Sandler upgraded Weatherford International from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $62.00 to $73.00 in a research report on Monday, July 28th. BMO Capital Markets began coverage on Weatherford International in a research report on Friday, October 10th. They issued an “outperform” rating and a $82.00 price target for the company. Zacks Research upgraded Weatherford International from a “strong sell” rating to a “hold” rating in a research report on Monday, August 25th. Barclays lowered their price target on Weatherford International from $77.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.90.

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.