Public Employees Retirement System of Ohio Makes New $2.24 Million Investment in Weatherford International plc (NASDAQ:WFRD)

Public Employees Retirement System of Ohio purchased a new stake in Weatherford International plc (NASDAQ:WFRD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,368 shares of the company's stock, valued at approximately $2,239,000.

Several other large investors also recently modified their holdings of WFRD. Farther Finance Advisors LLC boosted its stake in Weatherford International by 364.9% during the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company's stock worth $30,000 after acquiring an additional 281 shares in the last quarter. Fifth Third Bancorp boosted its stake in Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company's stock worth $44,000 after acquiring an additional 85 shares in the last quarter. nVerses Capital LLC bought a new position in Weatherford International during the third quarter worth $34,000. Millburn Ridgefield Corp bought a new position in Weatherford International during the third quarter worth $42,000. Finally, GAMMA Investing LLC boosted its stake in Weatherford International by 36.9% during the third quarter. GAMMA Investing LLC now owns 523 shares of the company's stock worth $44,000 after acquiring an additional 141 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Stock Performance

NASDAQ WFRD traded down $1.76 during trading hours on Wednesday, reaching $69.86. 968,555 shares of the company were exchanged, compared to its average volume of 899,876. Weatherford International plc has a 1 year low of $69.30 and a 1 year high of $135.00. The business's 50 day simple moving average is $83.46 and its 200-day simple moving average is $99.68. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $5.08 billion, a P/E ratio of 9.81, a P/E/G ratio of 0.64 and a beta of 0.58.

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

Weatherford International Announces Dividend

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

Insider Transactions at Weatherford International

In related news, CAO Desmond J. Mills sold 6,531 shares of the business's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the transaction, the chief accounting officer now owns 11,680 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Weatherford International from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, December 9th. Barclays dropped their price objective on shares of Weatherford International from $147.00 to $105.00 and set an "overweight" rating on the stock in a research note on Wednesday. Benchmark reaffirmed a "buy" rating and issued a $155.00 price objective on shares of Weatherford International in a research note on Thursday, October 24th. The Goldman Sachs Group lowered shares of Weatherford International from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $132.00 to $98.00 in a research note on Friday, December 13th. Finally, Bank of America dropped their price objective on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Weatherford International currently has a consensus rating of "Buy" and a consensus target price of $135.25.

Weatherford International 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.