Intech Investment Management LLC Invests $4.25 Million in Weatherford International plc (NASDAQ:WFRD)

Intech Investment Management LLC bought a new stake in Weatherford International plc (NASDAQ:WFRD) during the third quarter, HoldingsChannel reports. The fund bought 50,008 shares of the company’s stock, valued at approximately $4,247,000.

A number of other large investors have also added to or reduced their stakes in WFRD. Boston Partners boosted its holdings in shares of Weatherford International by 19.3% in the 1st quarter. Boston Partners now owns 2,722,281 shares of the company’s stock worth $315,240,000 after purchasing an additional 439,700 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Weatherford International in the second quarter worth approximately $51,287,000. Westwood Holdings Group Inc. grew its position in Weatherford International by 5,525.3% during the first quarter. Westwood Holdings Group Inc. now owns 359,569 shares of the company’s stock valued at $41,501,000 after acquiring an additional 353,177 shares during the last quarter. Jennison Associates LLC grew its position in Weatherford International by 30.6% during the third quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after acquiring an additional 310,259 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Weatherford International by 89.0% during the second quarter. Marshall Wace LLP now owns 612,242 shares of the company’s stock worth $74,969,000 after acquiring an additional 288,290 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Insiders Place Their Bets

In related news, EVP David John Reed sold 6,805 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 owns 11,680 shares of the company’s stock, 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. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

WFRD has been the topic of several recent research reports. Evercore ISI reduced their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays reduced their price objective 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. Bank of America lowered their target price on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Benchmark restated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Thursday, October 24th. Finally, Citigroup decreased their price target on Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Weatherford International has an average rating of “Buy” and a consensus price target of $147.29.

Weatherford International Price Performance

WFRD opened at $85.83 on Friday. 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 $6.24 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 0.71 and a beta of 0.60. The stock’s 50 day moving average price is $86.97 and its 200-day moving average price is $104.83. Weatherford International plc has a 52-week low of $77.00 and a 52-week high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share (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 business 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 earned $1.66 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Weatherford International plc will post 6.91 EPS for the current year.

Weatherford International Dividend Announcement

The company 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 dividend of $0.25 per share. The ex-dividend date is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Weatherford International’s dividend payout ratio (DPR) is 14.04%.

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.