Atlantic Investment Management Inc. Has $32.56 Million Stock Holdings in Weatherford International PLC $WFRD

Atlantic Investment Management Inc. grew its stake in shares of Weatherford International PLC (NASDAQ:WFRD) by 13.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 647,274 shares of the company’s stock after purchasing an additional 74,465 shares during the period. Weatherford International makes up 16.6% of Atlantic Investment Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Atlantic Investment Management Inc. owned about 0.90% of Weatherford International worth $32,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC bought a new position in Weatherford International during the second quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its stake in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Weatherford International by 30,600.0% during the first quarter. Brooklyn Investment Group now owns 614 shares of the company’s stock worth $33,000 after acquiring an additional 612 shares in the last quarter. American National Bank & Trust lifted its position in Weatherford International by 2,392.0% in the second quarter. American National Bank & Trust now owns 623 shares of the company’s stock valued at $31,000 after purchasing an additional 598 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised 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 valued at $33,000 after purchasing an additional 433 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

Weatherford International Stock Down 1.1%

Weatherford International stock opened at $80.34 on Friday. Weatherford International PLC has a 1-year low of $36.74 and a 1-year high of $82.26. The business has a fifty day moving average price of $71.52 and a 200-day moving average price of $61.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 14.55 and a beta of 0.79.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Weatherford International had a return on equity of 28.28% and a net margin of 8.15%.Weatherford International’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 EPS. Equities research analysts forecast that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Weatherford International’s payout ratio is 18.12%.

Insider Activity

In other Weatherford International news, EVP Kristin Ruzicka sold 2,129 shares of Weatherford International stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $77.25, for a total transaction of $164,465.25. Following the completion of the sale, the executive vice president owned 15,673 shares of the company’s stock, valued at approximately $1,210,739.25. The trade was a 11.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WFRD shares. Barclays raised their target price on shares of Weatherford International from $73.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Melius Research began coverage on Weatherford International in a research report on Wednesday, August 20th. They set a “buy” rating and a $108.00 price objective on the stock. The Goldman Sachs Group upped their price target on Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Melius began coverage on shares of Weatherford International in a report on Wednesday, August 20th. They issued a “buy” rating and a $108.00 target price for the company. Finally, BMO Capital Markets assumed coverage on Weatherford International in a report on Friday, October 10th. They issued an “outperform” rating and a $82.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.20.

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.