Weatherford International plc (NASDAQ:WFRD) Stock Holdings Boosted by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd grew its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 1,138.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,124 shares of the company's stock after purchasing an additional 29,530 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Weatherford International were worth $2,728,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WFRD. Advisors Asset Management Inc. acquired a new stake in shares of Weatherford International in the first quarter valued at approximately $471,000. Gabelli Funds LLC grew its stake in Weatherford International by 4.3% in the 1st quarter. Gabelli Funds LLC now owns 5,005 shares of the company's stock worth $578,000 after acquiring an additional 205 shares during the period. Lazard Asset Management LLC raised its holdings in Weatherford International by 29.8% in the 1st quarter. Lazard Asset Management LLC now owns 2,097 shares of the company's stock valued at $241,000 after acquiring an additional 481 shares during the last quarter. Hancock Whitney Corp purchased a new position in shares of Weatherford International during the 1st quarter worth $1,190,000. Finally, Comerica Bank boosted its holdings in shares of Weatherford International by 7.7% during the first quarter. Comerica Bank now owns 63,764 shares of the company's stock worth $7,360,000 after purchasing an additional 4,541 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Stock Down 2.1 %

Shares of WFRD traded down $1.76 during midday trading on Monday, reaching $84.07. 297,656 shares of the company were exchanged, compared to its average volume of 911,043. The stock has a 50-day moving average price of $86.97 and a 200-day moving average price of $104.57. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 0.72 and a beta of 0.60. Weatherford International plc has a 1-year low of $77.00 and a 1-year high of $135.00. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.65 by $0.41. The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Research analysts expect that Weatherford International plc will post 6.91 earnings per share for the current year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Wednesday, November 6th. Weatherford International's dividend payout ratio is presently 14.04%.

Insiders Place Their Bets

In related news, EVP David John Reed sold 6,805 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Desmond J. Mills sold 6,531 shares of the business's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the transaction, the chief accounting officer now owns 11,680 shares in the company, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WFRD shares. Bank of America reduced their target price on Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Evercore ISI cut their price target on shares of Weatherford International from $149.00 to $142.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Citigroup lowered their price objective on shares of Weatherford International from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Benchmark reiterated a "buy" rating and issued a $155.00 target price on shares of Weatherford International in a report on Thursday, October 24th. Finally, Barclays dropped their price target on Weatherford International from $154.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $147.29.

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.