Squarepoint Ops LLC grew its holdings in shares of Weatherford International PLC (NASDAQ:WFRD – Free Report) by 3,125.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 71,731 shares of the company’s stock after purchasing an additional 69,507 shares during the quarter. Squarepoint Ops LLC’s holdings in Weatherford International were worth $5,846,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in WFRD. TD Private Client Wealth LLC lifted its stake in Weatherford International by 4.2% during the fourth quarter. TD Private Client Wealth LLC now owns 3,219 shares of the company’s stock valued at $252,000 after buying an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Weatherford International by 24.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the company’s stock worth $55,000 after buying an additional 137 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Weatherford International by 3.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,914 shares of the company’s stock worth $385,000 after buying an additional 146 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Weatherford International by 4.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,851 shares of the company’s stock valued at $364,000 after buying an additional 151 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Weatherford International by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 318 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Weatherford International
In other news, Director Neal Goldman sold 16,000 shares of the firm’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 in the company, valued at $1,033,945.08. This trade represents a 56.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin Duster, IV sold 6,000 shares of Weatherford International stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $86.09, for a total transaction of $516,540.00. Following the transaction, the director directly owned 11,187 shares of the company’s stock, valued at $963,088.83. This represents a 34.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,094 shares of company stock worth $2,244,487 over the last ninety days. 2.07% of the stock is owned by insiders.
Weatherford International Price Performance
Weatherford International (NASDAQ:WFRD – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. Weatherford International had a return on equity of 21.50% and a net margin of 7.66%.Weatherford International’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.87 earnings per share. On average, analysts anticipate that Weatherford International PLC will post 5.22 earnings per share for the current fiscal year.
Weatherford International Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.2%. Weatherford International’s dividend payout ratio (DPR) is presently 21.70%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on WFRD shares. UBS Group raised shares of Weatherford International from a “neutral” rating to a “buy” rating and increased their price target for the company from $113.00 to $114.00 in a report on Wednesday, July 29th. Barclays decreased their price objective on shares of Weatherford International from $154.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Citigroup dropped their price target on shares of Weatherford International from $137.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Wall Street Zen lowered shares of Weatherford International from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Zacks Research cut Weatherford International from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.25.
Check Out Our Latest Stock Analysis on Weatherford International
Weatherford International Company Profile
Weatherford International plc (NASDAQ: WFRD) is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the exploration, drilling, completion, production and intervention of onshore and offshore wells.
The company’s portfolio includes drilling and well-construction systems, formation evaluation tools, well-completion equipment, production optimization technologies, artificial-lift systems and well-intervention services.
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