Zurcher Kantonalbank Zurich Cantonalbank Purchases 723 Shares of Weatherford International plc (NASDAQ:WFRD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Weatherford International plc (NASDAQ:WFRD) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,982 shares of the company’s stock after acquiring an additional 723 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Weatherford International were worth $1,527,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company’s stock valued at $30,000 after purchasing an additional 281 shares during the period. Fifth Third Bancorp raised its position in shares of Weatherford International by 31.0% in the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after purchasing an additional 85 shares during the period. GAMMA Investing LLC raised its position in shares of Weatherford International by 50.4% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $47,000 after purchasing an additional 128 shares during the period. nVerses Capital LLC bought a new position in shares of Weatherford International in the third quarter valued at about $34,000. Finally, CWM LLC raised its position in shares of Weatherford International by 74.1% in the second quarter. CWM LLC now owns 552 shares of the company’s stock valued at $68,000 after purchasing an additional 235 shares during the period. 97.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Desmond J. Mills sold 6,531 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Weatherford International Trading Down 0.1 %

Shares of Weatherford International stock opened at $84.80 on Thursday. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 0.71 and a beta of 0.58. 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. The firm’s 50-day moving average price is $85.46 and its two-hundred day moving average price is $102.57.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data 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 firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share. On average, analysts forecast that Weatherford International plc will post 6.85 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be paid 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 yield of 1.18%. Weatherford International’s payout ratio is 14.04%.

Analyst Upgrades and Downgrades

WFRD has been the topic of several research analyst reports. Evercore ISI dropped their price objective on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Citigroup dropped their price objective on shares of Weatherford International from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Barclays lowered their price target on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research report on Thursday, October 24th. Finally, Bank of America lowered their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Six 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, the stock currently has a consensus rating of “Buy” and an average target price 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.