UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $27.56 Million Stock Position in Weatherford International plc (NASDAQ:WFRD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 402.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,482 shares of the company's stock after buying an additional 259,924 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.45% of Weatherford International worth $27,555,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. FMR LLC increased its stake in shares of Weatherford International by 36.7% during the 3rd quarter. FMR LLC now owns 3,573,003 shares of the company's stock worth $303,419,000 after purchasing an additional 959,783 shares during the last quarter. Pacer Advisors Inc. increased its position in Weatherford International by 551.1% during the third quarter. Pacer Advisors Inc. now owns 1,440,837 shares of the company's stock worth $122,356,000 after buying an additional 1,219,553 shares during the last quarter. Jennison Associates LLC raised its stake in Weatherford International by 30.6% in the third quarter. Jennison Associates LLC now owns 1,324,101 shares of the company's stock valued at $112,443,000 after buying an additional 310,259 shares during the period. Renaissance Technologies LLC lifted its position in shares of Weatherford International by 6.2% in the second quarter. Renaissance Technologies LLC now owns 657,953 shares of the company's stock valued at $80,566,000 after buying an additional 38,700 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Weatherford International by 33.0% during the 2nd quarter. Millennium Management LLC now owns 631,862 shares of the company's stock worth $77,372,000 after acquiring an additional 156,756 shares during the period. Institutional investors own 97.23% of the company's stock.

Wall Street Analysts Forecast Growth

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

Weatherford International Price Performance

Shares of WFRD stock traded down $0.61 during trading on Thursday, hitting $84.19. The company had a trading volume of 261,572 shares, compared to its average volume of 901,839. The firm has a market capitalization of $6.12 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 0.72 and a beta of 0.58. Weatherford International plc has a one year low of $77.00 and a one year high of $135.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. The stock's 50-day moving average price is $85.41 and its 200 day moving average price is $102.44.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced 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 firm had revenue of $1.41 billion for 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 business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share. Equities analysts expect that Weatherford International plc will post 6.85 EPS for the current fiscal year.

Weatherford International Dividend Announcement

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

Insider Activity

In other news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction on 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 directly owns 11,680 shares in the company, valued at approximately $932,764.80. This represents a 35.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company's stock.

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.