Vestcor Inc Boosts Stake in Weatherford International plc (NASDAQ:WFRD)

Vestcor Inc increased its holdings in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 131.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,763 shares of the company's stock after buying an additional 7,823 shares during the quarter. Vestcor Inc's holdings in Weatherford International were worth $1,169,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company's stock worth $30,000 after acquiring an additional 281 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company's stock valued at $44,000 after purchasing an additional 85 shares during the period. nVerses Capital LLC acquired a new position in Weatherford International during the 3rd quarter worth approximately $34,000. Millburn Ridgefield Corp bought a new position in Weatherford International in the third quarter worth approximately $42,000. Finally, GAMMA Investing LLC grew its stake in Weatherford International by 36.9% in the third quarter. GAMMA Investing LLC now owns 523 shares of the company's stock valued at $44,000 after acquiring an additional 141 shares during the period. 97.23% of the stock is owned by institutional investors and hedge funds.

Weatherford International Stock Down 3.1 %

Shares of WFRD traded down $2.48 during trading hours on Thursday, hitting $78.04. The company had a trading volume of 668,966 shares, compared to its average volume of 899,925. 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 has a market capitalization of $5.67 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 0.65 and a beta of 0.58. Weatherford International plc has a 52-week low of $76.39 and a 52-week high of $135.00. The firm has a fifty day moving average price of $84.76 and a 200-day moving average price of $101.04.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.41. The firm had revenue of $1.41 billion during 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 company's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 earnings per share. On average, equities research analysts forecast that Weatherford International plc will post 6.85 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The company 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 of this dividend was Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. Weatherford International's payout ratio is 14.04%.

Insider Buying and Selling

In other news, CAO Desmond J. Mills sold 6,531 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the sale, the chief accounting officer now directly owns 11,680 shares of the company's stock, valued at $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 available at the SEC website. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

WFRD has been the topic of several research reports. Barclays lowered their price objective on shares of Weatherford International from $154.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Benchmark reissued a "buy" rating and set a $155.00 price target on shares of Weatherford International in a research report on Thursday, October 24th. Citigroup reduced their price objective on shares of Weatherford International from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Monday. Bank of America dropped their target price on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Finally, Evercore ISI decreased their price target on Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Weatherford International currently has a consensus rating of "Buy" and an average target price of $146.57.

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.