Entropy Technologies LP acquired a new stake in Weatherford International PLC (NASDAQ:WFRD – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,229 shares of the company’s stock, valued at approximately $684,000.
Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada grew its position in Weatherford International by 223.0% in the 1st quarter. Royal Bank of Canada now owns 122,662 shares of the company’s stock valued at $6,568,000 after acquiring an additional 84,684 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Weatherford International by 129.3% during the first quarter. Goldman Sachs Group Inc. now owns 143,703 shares of the company’s stock worth $7,695,000 after purchasing an additional 81,046 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Weatherford International during the first quarter worth about $258,000. Cetera Investment Advisers boosted its stake in shares of Weatherford International by 26.8% in the second quarter. Cetera Investment Advisers now owns 12,764 shares of the company’s stock valued at $642,000 after purchasing an additional 2,695 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock valued at $28,000 after purchasing an additional 253 shares during the period. Institutional investors and hedge funds own 97.23% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on WFRD. Citigroup cut their target price on shares of Weatherford International from $137.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. UBS Group raised shares of Weatherford International from a “neutral” rating to a “buy” rating and raised their price target for the company from $113.00 to $114.00 in a research report on Wednesday. Piper Sandler boosted their price target on shares of Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Wall Street Zen lowered Weatherford International from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Barclays reduced their price objective on Weatherford International from $154.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $113.56.
Insider Buying and Selling at Weatherford International
In other news, Director Neal P. Goldman sold 16,000 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $84.84, for a total transaction of $1,357,440.00. Following the completion of the transaction, the director directly owned 12,187 shares of the company’s stock, valued at approximately $1,033,945.08. This represents a 56.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Benjamin Duster sold 6,000 shares of the stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $86.09, for a total value of $516,540.00. Following the completion of the transaction, the director owned 11,187 shares in the company, valued at approximately $963,088.83. The trade was a 34.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.07% of the company’s stock.
Weatherford International Stock Down 1.5%
WFRD stock opened at $82.31 on Thursday. The company’s 50 day moving average price is $91.65 and its 200 day moving average price is $95.80. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.40 and a beta of 0.86. Weatherford International PLC has a fifty-two week low of $52.70 and a fifty-two week high of $113.15. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.77 and a current ratio of 2.34.
Weatherford International (NASDAQ:WFRD – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.35). Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $1.87 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Weatherford International PLC will post 5.35 EPS for the current fiscal year.
Weatherford International Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Weatherford International’s payout ratio is presently 21.70%.
About Weatherford International
Weatherford International (NASDAQ: WFRD) is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.
In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.
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