Stanley Laman Group Ltd. Boosts Stake in Weatherford International PLC $WFRD

Stanley Laman Group Ltd. lifted its holdings in shares of Weatherford International PLC (NASDAQ:WFRD) by 21.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,097 shares of the company’s stock after acquiring an additional 12,948 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Weatherford International were worth $3,627,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WFRD. Fifth Third Bancorp increased its position in shares of Weatherford International by 546.7% during the 1st quarter. Fifth Third Bancorp now owns 595 shares of the company’s stock valued at $32,000 after purchasing an additional 503 shares during the last quarter. Brooklyn Investment Group increased its holdings in Weatherford International by 30,600.0% during the first quarter. Brooklyn Investment Group now owns 614 shares of the company’s stock worth $33,000 after buying an additional 612 shares during the last quarter. American National Bank & Trust raised its position in Weatherford International by 2,392.0% in the second quarter. American National Bank & Trust now owns 623 shares of the company’s stock worth $31,000 after acquiring an additional 598 shares during the period. GAMMA Investing LLC boosted its stake in Weatherford International by 55.8% in the first quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock valued at $35,000 after acquiring an additional 231 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Weatherford International by 196.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 653 shares of the company’s stock valued at $33,000 after acquiring an additional 433 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Down 1.2%

Shares of NASDAQ:WFRD opened at $62.29 on Friday. The firm has a fifty day moving average price of $62.83 and a two-hundred day moving average price of $53.88. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 1.64 and a beta of 0.79. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.21 and a quick ratio of 1.63. Weatherford International PLC has a one year low of $36.74 and a one year high of $91.82.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.90. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Weatherford International had a return on equity of 34.87% and a net margin of 9.35%.The firm’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter last year, the company earned $1.66 earnings per share. Analysts anticipate that Weatherford International PLC will post 5.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WFRD shares. BMO Capital Markets started coverage on shares of Weatherford International in a report on Friday, October 10th. They issued an “outperform” rating and a $82.00 price target on the stock. Piper Sandler upped their price target on Weatherford International from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday. Barclays decreased their price objective on Weatherford International from $77.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $70.00 price objective (up from $69.00) on shares of Weatherford International in a report on Thursday, July 24th. Finally, Zacks Research upgraded shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Weatherford International currently has a consensus rating of “Moderate Buy” and an average target price of $95.50.

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.