Public Employees Retirement System of Ohio Has $5.57 Million Stake in Weatherford International PLC $WFRD

Public Employees Retirement System of Ohio reduced its position in Weatherford International PLC (NASDAQ:WFRD) by 30.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,915 shares of the company’s stock after selling 26,094 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.08% of Weatherford International worth $5,572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFRD. Smartleaf Asset Management LLC increased its stake in Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after acquiring an additional 178 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Weatherford International during the fourth quarter valued at approximately $26,000. Leonteq Securities AG bought a new stake in Weatherford International during the fourth quarter worth $39,000. EverSource Wealth Advisors LLC lifted its stake in Weatherford International by 83.5% during the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after purchasing an additional 253 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Weatherford International in the 1st quarter valued at $53,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Weatherford International

In other Weatherford International news, Director Benjamin Duster sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total transaction of $516,540.00. Following the completion of the transaction, the director owned 11,187 shares in the company, valued at approximately $963,088.83. This trade represents a 34.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neal P. Goldman sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $84.84, for a total transaction of $1,357,440.00. Following the completion of the transaction, the director owned 12,187 shares in the company, valued at $1,033,945.08. This trade represents a 56.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WFRD shares. UBS Group boosted their price target on Weatherford International from $105.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Wall Street Zen cut Weatherford International from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Barclays dropped their target price on shares of Weatherford International from $154.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Citigroup reduced their price target on shares of Weatherford International from $137.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Finally, Raymond James Financial decreased their price target on shares of Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Weatherford International presently has an average rating of “Moderate Buy” and an average price target of $113.44.

Weatherford International Stock Down 2.7%

Shares of NASDAQ:WFRD opened at $83.58 on Wednesday. The firm has a market cap of $5.99 billion, a P/E ratio of 16.49, a P/E/G ratio of 1.10 and a beta of 0.86. Weatherford International PLC has a 12-month low of $52.70 and a 12-month high of $113.15. The business has a fifty day simple moving average of $92.23 and a 200 day simple moving average of $95.85. The company has a quick ratio of 1.77, a current ratio of 2.34 and a debt-to-equity ratio of 0.81.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. The company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.87 EPS. Analysts predict that Weatherford International PLC will post 5.35 earnings per share for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 6th. Weatherford International’s payout ratio is currently 21.70%.

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.