Weatherford International PLC $WFRD Shares Sold by Holocene Advisors LP

Holocene Advisors LP reduced its holdings in Weatherford International PLC (NASDAQ:WFRD) by 2.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,609,096 shares of the company’s stock after selling 36,938 shares during the quarter. Holocene Advisors LP owned approximately 2.24% of Weatherford International worth $110,110,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WFRD. Quent Capital LLC bought a new stake in shares of Weatherford International during the 3rd quarter valued at about $26,000. Elevation Point Wealth Partners LLC bought a new position in Weatherford International in the second quarter worth about $27,000. EverSource Wealth Advisors LLC lifted its holdings in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company’s stock worth $28,000 after acquiring an additional 253 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Weatherford International by 69.8% in the second quarter. Smartleaf Asset Management LLC now owns 584 shares of the company’s stock valued at $29,000 after acquiring an additional 240 shares during the period. Finally, Sound Income Strategies LLC acquired a new position in Weatherford International in the third quarter valued at approximately $35,000. 97.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Zacks Research cut Weatherford International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 14th. UBS Group boosted their price objective on Weatherford International from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Citigroup upped their price objective on Weatherford International from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Barclays dropped their target price on Weatherford International from $111.00 to $109.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Weatherford International in a research note on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Weatherford International currently has an average rating of “Moderate Buy” and a consensus price target of $97.50.

Weatherford International Stock Performance

WFRD opened at $86.53 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.65 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $95.02 and its 200-day moving average is $79.26. The stock has a market cap of $6.21 billion, a PE ratio of 14.59 and a beta of 0.78. Weatherford International PLC has a twelve month low of $36.74 and a twelve month high of $110.57.

Weatherford International (NASDAQ:WFRD) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.49. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted $1.50 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, analysts predict that Weatherford International PLC will post 5.89 earnings per share for the current year.

Weatherford International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 6th were given a dividend of $0.275 per share. This is a boost from Weatherford International’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. Weatherford International’s payout ratio is presently 18.55%.

Insider Activity

In other news, CEO Girish Saligram sold 100,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $105.50, for a total transaction of $10,550,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Weatherford International Company 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.