Praxis Investment Management Inc. Invests $244,000 in Weatherford International PLC $WFRD

Praxis Investment Management Inc. bought a new position in shares of Weatherford International PLC (NASDAQ:WFRD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,840 shares of the company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Weatherford International by 546.7% during the first quarter. Fifth Third Bancorp now owns 595 shares of the company’s stock worth $32,000 after acquiring an additional 503 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Weatherford International by 30,600.0% during the first quarter. Brooklyn Investment Group now owns 614 shares of the company’s stock worth $33,000 after acquiring an additional 612 shares in the last quarter. American National Bank & Trust increased its position in shares of Weatherford International by 2,392.0% during the second quarter. American National Bank & Trust now owns 623 shares of the company’s stock worth $31,000 after acquiring an additional 598 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Weatherford International by 55.8% during the first quarter. GAMMA Investing LLC now owns 645 shares of the company’s stock worth $35,000 after acquiring an additional 231 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Weatherford International by 196.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 653 shares of the company’s stock worth $33,000 after acquiring an additional 433 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

Weatherford International Stock Down 1.2%

WFRD opened at $62.29 on Monday. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.03. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 1.62 and a beta of 0.79. Weatherford International PLC has a twelve month low of $36.74 and a twelve month high of $91.82. The company’s 50-day moving average price is $62.83 and its two-hundred day moving average price is $53.94.

Weatherford International (NASDAQ:WFRD) last released its earnings results on Tuesday, July 22nd. The company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Weatherford International had a net margin of 9.35% and a return on equity of 34.87%. The company’s quarterly revenue was down 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.66 earnings per share. As a group, equities analysts expect that Weatherford International PLC will post 5.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WFRD. Melius Research began coverage on shares of Weatherford International in a research report on Wednesday, August 20th. They issued a “buy” rating and a $108.00 price objective for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $70.00 price objective (up from $69.00) on shares of Weatherford International in a research report on Thursday, July 24th. BMO Capital Markets began coverage on shares of Weatherford International in a research report on Friday, October 10th. They issued an “outperform” rating and a $82.00 price objective for the company. Zacks Research raised shares of Weatherford International from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weatherford International in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Weatherford International has a consensus rating of “Moderate Buy” and a consensus target price of $95.50.

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.