Quadrant Capital Group LLC Buys 11,753 Shares of Weatherford International PLC $WFRD

Quadrant Capital Group LLC increased its position in Weatherford International PLC (NASDAQ:WFRD) by 1,017.6% in the second quarter, Holdings Channel.com reports. The fund owned 12,908 shares of the company’s stock after acquiring an additional 11,753 shares during the quarter. Quadrant Capital Group LLC’s holdings in Weatherford International were worth $649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank & Trust boosted its holdings in Weatherford International by 2,392.0% in the 2nd quarter. American National Bank & Trust now owns 623 shares of the company’s stock valued at $31,000 after purchasing an additional 598 shares during the period. Brooklyn Investment Group increased its holdings in shares of Weatherford International by 30,600.0% in the first quarter. Brooklyn Investment Group now owns 614 shares of the company’s stock worth $33,000 after purchasing an additional 612 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Weatherford International by 196.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 653 shares of the company’s stock worth $33,000 after buying an additional 433 shares in the last quarter. Byrne Asset Management LLC bought a new stake in Weatherford International during the second quarter valued at $43,000. Finally, Smithfield Trust Co grew its position in Weatherford International by 89.2% during the second quarter. Smithfield Trust Co now owns 1,048 shares of the company’s stock worth $53,000 after buying an additional 494 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $74.18 on Wednesday. The stock has a market cap of $5.32 billion, a PE ratio of 13.44, a PEG ratio of 1.84 and a beta of 0.79. The company’s fifty day moving average is $69.79 and its 200 day moving average is $60.33. Weatherford International PLC has a 52 week low of $36.74 and a 52 week high of $86.64. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.93.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.03). The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. Weatherford International had a net margin of 8.15% and a return on equity of 28.28%. The company’s revenue was down 12.6% on a year-over-year basis. During the same period last year, the firm posted $2.06 EPS. Research analysts anticipate that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th will be given a $0.25 dividend. The ex-dividend date is Thursday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Weatherford International’s payout ratio is presently 18.12%.

Analyst Upgrades and Downgrades

WFRD has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on 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 raised their target price on shares of Weatherford International from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Barclays lifted their target price on shares of Weatherford International from $73.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Weatherford International in a report on Wednesday, October 8th. 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 analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.90.

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.