6,200 Weatherford International PLC $WFRD Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in shares of Weatherford International PLC (NASDAQ:WFRD) by 30.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,300 shares of the company’s stock after selling 6,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Weatherford International were worth $1,125,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in Weatherford International by 72.0% during the 2nd quarter. IFP Advisors Inc now owns 313 shares of the company’s stock worth $26,000 after acquiring an additional 131 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Weatherford International in the 2nd quarter valued at $38,000. Summit Securities Group LLC acquired a new stake in shares of Weatherford International in the 1st quarter valued at $53,000. EverSource Wealth Advisors LLC lifted its position in shares of Weatherford International by 32.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $88,000 after purchasing an additional 231 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Weatherford International by 65.2% during the 3rd quarter. Signaturefd LLC now owns 1,786 shares of the company’s stock worth $141,000 after purchasing an additional 705 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Insider Buying and Selling at Weatherford International

In other news, Director Jacqueline Mutschler sold 4,094 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $90.50, for a total transaction of $370,507.00. Following the transaction, the director directly owned 29,093 shares in the company, valued at approximately $2,632,916.50. This trade represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WFRD. Zacks Research raised Weatherford International from a “strong sell” rating to a “hold” rating in a report on Friday, October 23rd. Weiss Ratings upgraded Weatherford International from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 27th. Raymond James Financial cut their target price on Weatherford International from $125.00 to $122.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. UBS Group cut their target price on Weatherford International from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Finally, The Goldman Sachs Group decreased their target price on Weatherford International from $106.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.57.

Weatherford International Stock Down 1.9%

WFRD opened at $86.04 on Thursday. The business’s 50-day simple moving average is $85.04 and its 200-day simple moving average is $92.87. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.52 and a current ratio of 2.04. Weatherford International PLC has a one year low of $68.49 and a one year high of $113.15. The stock has a market capitalization of $6.24 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.49 and a beta of 0.83.

Weatherford International (NASDAQ:WFRD) last announced its earnings results on Tuesday, October 20th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Weatherford International had a return on equity of 22.39% and a net margin of 8.64%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. Analysts anticipate that Weatherford International PLC will post 5.57 EPS for the current year.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 6th will be issued a $0.2750 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 6th. Weatherford International’s dividend payout ratio is presently 19.61%.

About Weatherford International

Weatherford International plc is an energy services company that provides equipment, technology and services to the oil and natural gas industry. Its offerings support the life cycle of a well, from drilling and formation evaluation to completion, production, intervention and abandonment.

The company’s product and service portfolio includes drilling systems, well logging and evaluation tools, completion equipment, artificial-lift systems, production optimization technologies, well intervention services and digital solutions.