SCP Investment LP Boosts Stock Position in Weatherford International plc (NASDAQ:WFRD)

SCP Investment LP increased its stake in Weatherford International plc (NASDAQ:WFRD) by 98.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,680 shares of the company’s stock after purchasing an additional 5,800 shares during the quarter. Weatherford International comprises about 0.7% of SCP Investment LP’s holdings, making the stock its 15th largest position. SCP Investment LP’s holdings in Weatherford International were worth $992,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners grew its position 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 buying an additional 439,700 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Weatherford International in the second quarter worth approximately $51,287,000. Westwood Holdings Group Inc. raised its stake in Weatherford International by 5,525.3% in the first quarter. Westwood Holdings Group Inc. now owns 359,569 shares of the company’s stock valued at $41,501,000 after purchasing an additional 353,177 shares in the last quarter. Jennison Associates LLC raised its stake in Weatherford International by 30.6% in the third quarter. Jennison Associates LLC now owns 1,324,101 shares of the company’s stock valued at $112,443,000 after purchasing an additional 310,259 shares in the last quarter. Finally, Marshall Wace LLP lifted 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 valued at $74,969,000 after purchasing an additional 288,290 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Stock Down 1.2 %

Shares of Weatherford International stock opened at $82.32 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. Weatherford International plc has a 52-week low of $77.00 and a 52-week high of $135.00. The company’s 50 day moving average price is $87.32 and its 200-day moving average price is $105.40. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 11.56, a P/E/G ratio of 0.70 and a beta of 0.60.

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

Weatherford International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 6th. Weatherford International’s dividend payout ratio (DPR) is currently 14.04%.

Analysts Set New Price Targets

Several research firms have recently weighed in on WFRD. Barclays lowered their price objective on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Thursday, October 24th. Raymond James reduced their price objective on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Citigroup decreased their price objective on Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, Evercore ISI cut their target price on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $147.29.

Insider Transactions at Weatherford International

In other news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Desmond J. Mills sold 6,531 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the transaction, the chief accounting officer now owns 11,680 shares in the company, valued at $932,764.80. This represents a 35.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Weatherford International Profile

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.