Oliver Luxxe Assets LLC cut its holdings in shares of Weatherford International PLC (NASDAQ:WFRD – Free Report) by 32.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,909 shares of the company’s stock after selling 7,067 shares during the period. Oliver Luxxe Assets LLC’s holdings in Weatherford International were worth $1,215,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its position in Weatherford International by 4.2% during the 4th quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock valued at $252,000 after purchasing an additional 130 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Weatherford International by 24.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock valued at $55,000 after purchasing an additional 137 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Weatherford International by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock valued at $385,000 after buying an additional 146 shares during the period. PNC Financial Services Group Inc. raised its stake in Weatherford International by 4.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,851 shares of the company’s stock worth $364,000 after buying an additional 151 shares in the last quarter. Finally, CWM LLC lifted its holdings in Weatherford International by 2.3% in the fourth quarter. CWM LLC now owns 7,711 shares of the company’s stock worth $603,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Piper Sandler upped their target price on Weatherford International from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Raymond James Financial reduced their price target on Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. UBS Group raised Weatherford International from a “neutral” rating to a “buy” rating and raised their price objective for the company from $113.00 to $114.00 in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of Weatherford International from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Zacks Research lowered shares of Weatherford International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Weatherford International has an average rating of “Moderate Buy” and an average price target of $113.56.
Insider Transactions at Weatherford International
In other Weatherford International news, Director Benjamin Duster sold 6,000 shares of Weatherford International 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 directly owned 11,187 shares of the company’s stock, valued at approximately $963,088.83. The trade was a 34.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neal P. Goldman sold 16,000 shares of the company’s stock in a transaction that occurred on 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 owned 12,187 shares in the company, valued at approximately $1,033,945.08. This represents a 56.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.08% of the stock is currently owned by company insiders.
Weatherford International Stock Performance
Weatherford International stock opened at $86.82 on Monday. Weatherford International PLC has a 12 month low of $52.70 and a 12 month high of $113.15. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.45 and a beta of 0.86. The business’s fifty day simple moving average is $88.92 and its two-hundred day simple moving average is $95.88. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.81.
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 for the quarter, missing the consensus estimate of $0.90 by ($0.35). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. Weatherford International had a net margin of 7.66% and a return on equity of 21.50%. Weatherford International’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.87 earnings per share. As a group, equities analysts predict that Weatherford International PLC will post 5.35 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, September 3rd. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, August 6th. Weatherford International’s dividend payout ratio (DPR) is currently 21.70%.
Weatherford International Profile
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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