Viking Fund Management LLC Invests $1.78 Million in Weatherford International plc (NASDAQ:WFRD)

Viking Fund Management LLC purchased a new stake in shares of Weatherford International plc (NASDAQ:WFRD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 21,000 shares of the company’s stock, valued at approximately $1,783,000.

A number of other hedge funds have also recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in Weatherford International during the fourth quarter worth $518,000. PNC Financial Services Group Inc. increased its position in shares of Weatherford International by 86.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the company’s stock worth $132,000 after purchasing an additional 628 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Weatherford International by 6.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 31,587 shares of the company’s stock valued at $3,646,000 after buying an additional 1,910 shares during the period. Rise Advisors LLC acquired a new position in Weatherford International in the first quarter valued at about $34,000. Finally, Ballentine Partners LLC purchased a new position in Weatherford International during the first quarter worth about $253,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Up 0.6 %

WFRD stock traded up $0.54 during mid-day trading on Friday, reaching $94.33. The company had a trading volume of 874,625 shares, compared to its average volume of 1,044,325. The firm has a fifty day simple moving average of $97.29 and a 200 day simple moving average of $112.21. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.47 and a current ratio of 1.99. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.67 and a beta of 0.58. Weatherford International plc has a fifty-two week low of $82.16 and a fifty-two week high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. Analysts forecast that Weatherford International plc will post 6.81 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.06%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s dividend payout ratio (DPR) is presently 14.88%.

Insider Buying and Selling at Weatherford International

In related news, EVP David John Reed sold 6,805 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WFRD shares. Raymond James reduced their price target on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 25th. Benchmark restated a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Wednesday, July 24th. Bank of America raised their price target on Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Citigroup lowered their target price on Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Barclays boosted their price target on shares of Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Weatherford International presently has a consensus rating of “Buy” and a consensus price target of $150.75.

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.