30,723 Shares in Weatherford International plc (NASDAQ:WFRD) Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA bought a new position in shares of Weatherford International plc (NASDAQ:WFRD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,723 shares of the company’s stock, valued at approximately $2,609,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFRD. Boston Partners grew its holdings in Weatherford International by 19.3% during the first quarter. Boston Partners now owns 2,722,281 shares of the company’s stock worth $315,240,000 after acquiring an additional 439,700 shares during the period. William Blair Investment Management LLC acquired a new stake in Weatherford International during the second quarter worth about $51,287,000. Westwood Holdings Group Inc. boosted 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 worth $41,501,000 after purchasing an additional 353,177 shares in the last quarter. Jennison Associates LLC boosted 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 worth $112,443,000 after purchasing an additional 310,259 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in 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 purchasing an additional 288,290 shares in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WFRD has been the topic of a number of recent analyst reports. Evercore ISI lowered their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Thursday, October 24th. Barclays lowered their price target on Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Bank of America lowered their price target 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. Finally, Citigroup lowered their price target on Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a research report 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 stock. Based on data from MarketBeat, Weatherford International presently has an average rating of “Buy” and a consensus target price of $147.29.

Weatherford International Trading Down 2.8 %

Shares of NASDAQ WFRD opened at $81.99 on Wednesday. Weatherford International plc has a twelve month low of $77.00 and a twelve month high of $135.00. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The stock has a fifty day simple moving average of $86.80 and a 200-day simple moving average of $104.28. The stock has a market capitalization of $5.96 billion, a PE ratio of 11.52, a PEG ratio of 0.72 and a beta of 0.60.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Weatherford International plc will post 6.91 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Insider Activity at Weatherford International

In related news, CAO Desmond J. Mills sold 6,531 shares of Weatherford International 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 trade represents a 35.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

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.