M&T Bank Corp Purchases 5,361 Shares of Weatherford International PLC $WFRD

M&T Bank Corp increased its position in Weatherford International PLC (NASDAQ:WFRD) by 82.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,869 shares of the company’s stock after acquiring an additional 5,361 shares during the quarter. M&T Bank Corp’s holdings in Weatherford International were worth $929,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Quent Capital LLC bought a new stake in Weatherford International during the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its position in Weatherford International by 83.5% during the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after purchasing an additional 253 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Weatherford International by 69.8% during the second quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock valued at $29,000 after purchasing an additional 240 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Weatherford International during the third quarter valued at approximately $41,000. Finally, Johnson Financial Group Inc. bought a new stake in Weatherford International during the third quarter valued at approximately $52,000. 97.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WFRD shares. Citigroup lifted their target price on shares of Weatherford International from $115.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, May 4th. UBS Group lifted their target price on shares of Weatherford International from $105.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Piper Sandler lifted their target price on shares of Weatherford International from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Weiss Ratings lowered shares of Weatherford International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, April 24th. Finally, The Goldman Sachs Group lifted their target price on shares of Weatherford International from $83.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $110.33.

Weatherford International Stock Performance

Shares of WFRD opened at $102.32 on Monday. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.21 and a beta of 0.87. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.73 and a current ratio of 2.31. Weatherford International PLC has a fifty-two week low of $42.75 and a fifty-two week high of $112.31. The firm has a 50 day moving average price of $97.95 and a 200-day moving average price of $88.17.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.47. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Weatherford International had a net margin of 9.49% and a return on equity of 28.31%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. As a group, equities research analysts forecast that Weatherford International PLC will post 5.97 earnings per share for the current year.

Weatherford International Dividend Announcement

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

Weatherford International Company 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.