Geode Capital Management LLC Decreases Position in Weatherford International PLC $WFRD

Geode Capital Management LLC lowered its stake in shares of Weatherford International PLC (NASDAQ:WFRD) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,333,358 shares of the company’s stock after selling 18,246 shares during the period. Geode Capital Management LLC’s holdings in Weatherford International were worth $104,370,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. grew its stake in Weatherford International by 270.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 19,860 shares of the company’s stock valued at $1,359,000 after buying an additional 14,505 shares in the last quarter. Gotham Asset Management LLC grew its stake in Weatherford International by 80.0% in the 3rd quarter. Gotham Asset Management LLC now owns 785,828 shares of the company’s stock valued at $53,774,000 after buying an additional 349,214 shares in the last quarter. William Blair Investment Management LLC grew its stake in Weatherford International by 9.9% in the 3rd quarter. William Blair Investment Management LLC now owns 822,117 shares of the company’s stock valued at $56,257,000 after buying an additional 74,155 shares in the last quarter. Deprince Race & Zollo Inc. grew its stake in Weatherford International by 77.6% in the 4th quarter. Deprince Race & Zollo Inc. now owns 537,851 shares of the company’s stock valued at $42,092,000 after buying an additional 234,989 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new position in Weatherford International in the 3rd quarter valued at approximately $3,367,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Down 6.3%

WFRD opened at $97.17 on Friday. The company has a fifty day moving average price of $103.40 and a 200-day moving average price of $93.14. The firm has a market capitalization of $6.99 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 0.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.31 and a quick ratio of 1.73. Weatherford International PLC has a one year low of $46.20 and a one year high of $113.15.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $1.03 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. Equities research analysts expect that Weatherford International PLC will post 6.13 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 6th. Weatherford International’s payout ratio is currently 17.21%.

Analyst Upgrades and Downgrades

WFRD has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on shares of Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Citigroup lifted their price objective on shares of Weatherford International from $134.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group lifted their price objective on shares of Weatherford International from $105.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada initiated coverage on shares of Weatherford International in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $105.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Weatherford International from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.67.

Weatherford International Profile

Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.