Janney Montgomery Scott LLC Takes $437,000 Position in Weatherford International plc (NASDAQ:WFRD)

Janney Montgomery Scott LLC bought a new stake in Weatherford International plc (NASDAQ:WFRD – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,531 shares of the company’s stock, valued at approximately $437,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Weatherford International by 2.4% in the first quarter. Vanguard Group Inc. now owns 3,303,717 shares of the company’s stock valued at $110,014,000 after purchasing an additional 78,381 shares during the period. State Street Corp boosted its stake in shares of Weatherford International by 317.1% in the second quarter. State Street Corp now owns 1,571,745 shares of the company’s stock valued at $33,274,000 after purchasing an additional 1,194,930 shares during the period. BlackRock Inc. raised its holdings in Weatherford International by 1.7% in the first quarter. BlackRock Inc. now owns 1,182,007 shares of the company’s stock valued at $39,361,000 after acquiring an additional 19,287 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in Weatherford International in the second quarter valued at $24,015,000. Finally, Penn Capital Management Company LLC raised its holdings in Weatherford International by 35.4% in the second quarter. Penn Capital Management Company LLC now owns 804,526 shares of the company’s stock valued at $17,246,000 after acquiring an additional 210,180 shares in the last quarter. 95.24% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Stock Down 0.2 %

Shares of NASDAQ:WFRD opened at $55.94 on Tuesday. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -18.83 and a beta of 0.98. Weatherford International plc has a 1-year low of $16.96 and a 1-year high of $57.92. The company’s fifty day moving average is $47.23 and its two-hundred day moving average is $35.77. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.69 and a current ratio of 2.21.

Weatherford International (NASDAQ:WFRD – Get Rating) last issued its earnings results on Tuesday, October 25th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.25). The business had revenue of $1.12 billion for the quarter. Weatherford International had a negative return on equity of 13.58% and a negative net margin of 5.06%. Equities analysts anticipate that Weatherford International plc will post 0.3 EPS for the current year.

Analysts Set New Price Targets

WFRD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Weatherford International from $49.00 to $54.00 in a report on Thursday, October 27th. The Goldman Sachs Group upped their price target on shares of Weatherford International from $38.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. Finally, Piper Sandler upped their price target on shares of Weatherford International from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, November 18th.

About Weatherford International

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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 in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing, cementing, and coiled-tubing intervention; and drill stem test tools, surface well testing, and multiphase flow measurement services.