Jennison Associates LLC Has $112.44 Million Position in Weatherford International plc (NASDAQ:WFRD)

Jennison Associates LLC boosted its position in Weatherford International plc (NASDAQ:WFRD) by 30.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,324,101 shares of the company’s stock after purchasing an additional 310,259 shares during the quarter. Jennison Associates LLC owned about 1.82% of Weatherford International worth $112,443,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Weatherford International by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 7,599,657 shares of the company’s stock worth $877,152,000 after acquiring an additional 53,017 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Weatherford International by 2.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,409,020 shares of the company’s stock worth $739,730,000 after purchasing an additional 182,120 shares in the last quarter. Boston Partners increased its position in shares of Weatherford International by 19.3% in the first quarter. Boston Partners now owns 2,722,281 shares of the company’s stock worth $315,240,000 after purchasing an additional 439,700 shares during the period. Renaissance Technologies LLC raised its stake in Weatherford International by 6.2% in the second quarter. Renaissance Technologies LLC now owns 657,953 shares of the company’s stock valued at $80,566,000 after purchasing an additional 38,700 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Weatherford International by 33.0% during the second quarter. Millennium Management LLC now owns 631,862 shares of the company’s stock worth $77,372,000 after purchasing an additional 156,756 shares during the period. Institutional investors own 97.23% of the company’s stock.

Weatherford International Stock Up 0.1 %

Shares of NASDAQ:WFRD opened at $82.43 on Thursday. Weatherford International plc has a 52-week low of $77.00 and a 52-week high of $135.00. The company has a market capitalization of $5.99 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.69 and a beta of 0.60. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. The company has a fifty day moving average of $87.18 and a 200-day moving average of $105.24.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.66 EPS. On average, equities analysts predict that Weatherford International plc will post 6.91 EPS for the current fiscal year.

Weatherford International Dividend Announcement

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

Insider Buying and Selling

In other news, EVP David John Reed sold 6,805 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Desmond J. Mills sold 6,531 shares of Weatherford International stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $79.86, for a total value of $521,565.66. Following the completion of the transaction, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This represents a 35.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WFRD shares. Citigroup dropped their target price on shares of Weatherford International from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research report on Thursday, October 24th. Raymond James reduced their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Evercore ISI lowered their price target on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Bank of America reduced their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $147.29.

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.