Loomis Sayles & Co. L P Has $89.80 Million Stock Position in Weatherford International plc (NASDAQ:WFRD)

Loomis Sayles & Co. L P lessened its position in shares of Weatherford International plc (NASDAQ:WFRD) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,057,462 shares of the company’s stock after selling 51,270 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Weatherford International were worth $89,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. First Hawaiian Bank bought a new position in Weatherford International in the second quarter worth $1,653,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Weatherford International during the 2nd quarter worth about $20,584,000. Cetera Investment Advisers acquired a new stake in shares of Weatherford International during the 1st quarter valued at about $2,132,000. Merewether Investment Management LP increased its stake in Weatherford International by 38.8% in the second quarter. Merewether Investment Management LP now owns 549,803 shares of the company’s stock valued at $67,323,000 after acquiring an additional 153,800 shares during the period. Finally, Gabelli Funds LLC increased its stake in Weatherford International by 4.3% in the first quarter. Gabelli Funds LLC now owns 5,005 shares of the company’s stock valued at $578,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Stock Performance

Weatherford International stock opened at $85.83 on Monday. The stock has a 50-day simple moving average of $86.97 and a 200 day simple moving average of $104.57. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 0.72 and a beta of 0.60. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. Weatherford International plc has a 12-month low of $77.00 and a 12-month high of $135.00.

Weatherford International (NASDAQ:WFRD) last announced 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. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the business earned $1.66 earnings per share. Weatherford International’s quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts anticipate that Weatherford International plc will post 6.91 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Weatherford International’s payout ratio is currently 14.04%.

Insider Activity at Weatherford International

In other news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the transaction, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays decreased their price objective on Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Bank of America decreased their price target 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. Evercore ISI dropped their price objective on Weatherford International from $149.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Citigroup reduced their target price on shares of Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Weatherford International presently has a consensus rating of “Buy” and an average price target of $147.29.

Weatherford International Company 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.