Weatherford International PLC $WFRD is Atlantic Investment Management Inc.’s 2nd Largest Position

Atlantic Investment Management Inc. raised its holdings in Weatherford International PLC (NASDAQ:WFRD) by 13.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 647,274 shares of the company’s stock after acquiring an additional 74,465 shares during the period. Weatherford International accounts for 16.6% of Atlantic Investment Management Inc.’s holdings, making the stock its 2nd biggest holding. Atlantic Investment Management Inc.’s holdings in Weatherford International were worth $32,564,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WFRD. Elevation Point Wealth Partners LLC purchased a new stake in shares of Weatherford International in the second quarter worth about $27,000. EverSource Wealth Advisors LLC lifted its holdings in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares during the period. American National Bank & Trust lifted its holdings in Weatherford International by 2,392.0% in the second quarter. American National Bank & Trust now owns 623 shares of the company’s stock valued at $31,000 after acquiring an additional 598 shares during the period. Brooklyn Investment Group boosted its position in Weatherford International by 30,600.0% in the 1st quarter. Brooklyn Investment Group now owns 614 shares of the company’s stock worth $33,000 after purchasing an additional 612 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Weatherford International by 196.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 653 shares of the company’s stock valued at $33,000 after purchasing an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on WFRD shares. Barclays increased their price target on shares of Weatherford International from $73.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Citigroup upped their price target on shares of Weatherford International from $77.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday. Melius assumed coverage on Weatherford International in a report on Wednesday, August 20th. They issued a “buy” rating and a $108.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of Weatherford International from $66.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Weatherford International presently has an average rating of “Moderate Buy” and a consensus price target of $90.20.

Insider Transactions at Weatherford International

In other Weatherford International news, EVP Kristin Ruzicka sold 2,129 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $77.25, for a total value of $164,465.25. Following the transaction, the executive vice president owned 15,673 shares of the company’s stock, valued at $1,210,739.25. This represents a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.09% of the company’s stock.

Weatherford International Stock Down 1.1%

Shares of NASDAQ WFRD opened at $80.34 on Friday. The company has a market capitalization of $5.76 billion, a P/E ratio of 14.55 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.07 and a quick ratio of 1.55. The company has a 50 day simple moving average of $71.52 and a 200-day simple moving average of $61.94. Weatherford International PLC has a 1 year low of $36.74 and a 1 year high of $82.26.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.03). The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Weatherford International had a return on equity of 28.28% and a net margin of 8.15%.The company’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.06 earnings per share. On average, equities research analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, November 6th. Weatherford International’s dividend payout ratio (DPR) is presently 18.12%.

About Weatherford International

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.