Franklin Resources Inc. Has $43.01 Million Stake in Weatherford International plc (NASDAQ:WFRD)

Franklin Resources Inc. increased its position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 63.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 461,790 shares of the company's stock after purchasing an additional 179,064 shares during the period. Franklin Resources Inc. owned approximately 0.64% of Weatherford International worth $43,007,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFRD. Farther Finance Advisors LLC boosted its stake in shares of Weatherford International by 364.9% during the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company's stock valued at $30,000 after acquiring an additional 281 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Weatherford International during the 3rd quarter worth $34,000. Millburn Ridgefield Corp acquired a new stake in Weatherford International during the third quarter worth about $42,000. Fifth Third Bancorp raised its holdings in shares of Weatherford International by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company's stock worth $44,000 after purchasing an additional 85 shares during the period. Finally, GAMMA Investing LLC lifted its position in Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company's stock valued at $44,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Stock Down 2.5 %

NASDAQ:WFRD traded down $1.76 during trading hours on Wednesday, hitting $69.86. 968,555 shares of the stock traded hands, compared to its average volume of 899,876. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 0.64 and a beta of 0.58. The firm has a 50 day moving average price of $83.02 and a 200 day moving average price of $99.47. 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 plc has a fifty-two week low of $69.30 and a fifty-two week high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.65 by $0.41. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. Equities research analysts anticipate that Weatherford International plc will post 6.85 earnings per share for the current year.

Weatherford International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.43%. Weatherford International's dividend payout ratio is currently 14.04%.

Insiders Place Their Bets

In other news, CAO Desmond J. Mills sold 6,531 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. The trade was a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup dropped their target price on Weatherford International from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, December 9th. The Goldman Sachs Group downgraded shares of Weatherford International from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $132.00 to $98.00 in a research report on Friday, December 13th. Benchmark restated a "buy" rating and set a $155.00 price objective on shares of Weatherford International in a research note on Thursday, October 24th. 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 report on Monday, October 14th. Finally, Barclays dropped their price target on Weatherford International from $147.00 to $105.00 and set an "overweight" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $135.25.

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.