Weatherford International plc (NASDAQ:WFRD) shares sold by Bank of New York Mellon Corp

VaselineAugust 28, 2024

0 3 minutes read

Bank of New York Mellon Corp lessened its holdings in Weatherford International plc (NASDAQ:WFRD – Free Report) by 29.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,130,510 shares of the company’s stock after selling 478,987 shares during the quarter. Bank of New York Mellon Corp’s holdings in Weatherford International were worth $138,431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Natixis Advisors LP acquired a new position in Weatherford International in the fourth quarter valued at approximately $1,842,000. First Hawaiian Bank bought a new position in Weatherford International in the second quarter valued at $1,653,000. Hsbc Holdings PLC bought a new position in Weatherford International in the fourth quarter valued at $3,309,000. Allspring Global Investments Holdings LLC grew its position in Weatherford International by 669.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,221 shares of the company’s stock worth $1,872,000 after buying an additional 14,112 shares during the period. Finally, Entropy Technologies LP boosted its stake in Weatherford International by 79.7% in the first quarter. Entropy Technologies LP now owns 11,985 shares of the company’s stock valued at $1,383,000 after purchasing an additional 5,315 shares during the last quarter. 97.23% of shares are owned by institutional investors and hedge funds.

Changes in Analyst Ratings

Several research firms have recently commented on WFRD. Bank of America boosted their target price on shares of Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Citigroup initiated coverage on shares of Weatherford International in a research note on Tuesday, May 14th. They issued a “buy” rating and a $155.00 target price on the stock. Raymond James cut their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Barclays boosted their price objective on Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $153.88, according to MarketBeat.com.

Want more great investment ideas?

Check out our latest research report on Weatherford International

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $108.63 on Tuesday. The stock’s 50-day moving average price is $116.92 and its 200-day moving average price is $115.64. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99, and a quick ratio of 1.47. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 0.74 and a beta of 0.63. Weatherford International plc has a 12-month low of $82.16 and a 12-month high of $135.00.

Weatherford International (NASDAQ:WFRD – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted EPS of $1.12. The company’s quarterly revenue was up 10.3% year over year. equities research analysts anticipate that Weatherford International plc will post 6.82 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents an annualized dividend of $1.00 and a dividend yield of 0.92%. Weatherford International’s dividend payout ratio (DPR) is 16.18%.

Weatherford International Company Profile

(Free Report)

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 constructions and completions; and Production and Intervention.