EFG Asset Management North America Corp. Boosts Holdings in Weatherford International plc (NASDAQ:WFRD)

EFG Asset Management North America Corp. raised its stake in shares of Weatherford International plc (NASDAQ:WFRD) by 105.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,781 shares of the company’s stock after acquiring an additional 17,332 shares during the period. EFG Asset Management North America Corp.’s holdings in Weatherford International were worth $2,420,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of WFRD. Lindbrook Capital LLC raised its position in Weatherford International by 130.8% during the fourth quarter. Lindbrook Capital LLC now owns 360 shares of the company’s stock valued at $26,000 after acquiring an additional 204 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Weatherford International in the 3rd quarter valued at $42,000. R Squared Ltd purchased a new stake in Weatherford International during the fourth quarter worth $36,000. Blue Trust Inc. grew its position in Weatherford International by 643.0% during the fourth quarter. Blue Trust Inc. now owns 1,278 shares of the company’s stock valued at $92,000 after buying an additional 1,106 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Weatherford International by 11,606.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,873 shares of the company’s stock valued at $134,000 after buying an additional 1,857 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Stock Performance

WFRD opened at $54.82 on Wednesday. Weatherford International plc has a twelve month low of $51.24 and a twelve month high of $135.00. The firm has a market capitalization of $3.99 billion, a PE ratio of 8.16, a PEG ratio of 1.65 and a beta of 0.61. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average price is $63.12 and its 200 day moving average price is $75.52.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Wednesday, February 5th. The company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.30). Weatherford International had a return on equity of 40.65% and a net margin of 9.18%. As a group, sell-side analysts expect that Weatherford International plc will post 5.89 EPS for the current fiscal year.

Weatherford International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, February 21st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date was Friday, February 21st. Weatherford International’s payout ratio is currently 14.88%.

Wall Street Analysts Forecast Growth

WFRD has been the topic of a number of analyst reports. Raymond James dropped their target price on Weatherford International from $107.00 to $97.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 7th. Benchmark reduced their target price on Weatherford International from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Citigroup dropped their price target on shares of Weatherford International from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group downgraded shares of Weatherford International from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $132.00 to $98.00 in a report on Friday, December 13th. Finally, Barclays cut their target price on shares of Weatherford International from $100.00 to $92.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.63.

Insiders Place Their Bets

In related news, EVP David John Reed sold 4,762 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $72.66, for a total transaction of $346,006.92. Following the completion of the sale, the executive vice president now directly owns 11,109 shares in the company, valued at approximately $807,179.94. This trade represents a 30.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott C. Weatherholt sold 44,505 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $66.17, for a total transaction of $2,944,895.85. Following the completion of the transaction, the executive vice president now owns 125,019 shares in the company, valued at $8,272,507.23. The trade was a 26.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,692 shares of company stock valued at $6,207,725 in the last three months. 1.60% of the stock is currently owned by 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.