Weatherford International PLC $WFRD Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Decreases Holdings

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in shares of Weatherford International PLC (NASDAQ:WFRD) by 30.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,300 shares of the company’s stock after selling 6,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Weatherford International were worth $1,125,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WFRD. IFP Advisors Inc raised its stake in Weatherford International by 72.0% during the 2nd quarter. IFP Advisors Inc now owns 313 shares of the company’s stock valued at $26,000 after acquiring an additional 131 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of 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 purchasing an additional 151 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Weatherford International by 9.0% in the second quarter. GAMMA Investing LLC now owns 2,191 shares of the company’s stock valued at $179,000 after purchasing an additional 181 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Weatherford International by 32.8% during the first 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, Quadrant Capital Group LLC raised its stake in shares of Weatherford International by 1.7% during the third quarter. Quadrant Capital Group LLC now owns 14,045 shares of the company’s stock worth $1,084,000 after purchasing an additional 231 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Weatherford International Stock Down 1.9%

WFRD opened at $86.04 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.04 and a quick ratio of 1.52. The business has a 50 day simple moving average of $85.04 and a 200-day simple moving average of $92.87. The stock has a market capitalization of $6.24 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.49 and a beta of 0.83. Weatherford International PLC has a 12 month low of $68.49 and a 12 month high of $113.15.

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

Weatherford International Announces Dividend

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

Insider Activity at Weatherford International

In other news, Director Jacqueline Mutschler sold 4,094 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $2,632,916.50. This represents a 12.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Weatherford International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th. Royal Bank Of Canada dropped their price objective on shares of Weatherford International from $124.00 to $123.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Zacks Research upgraded shares of Weatherford International from a “strong sell” rating to a “hold” rating in a research report on Friday, October 23rd. UBS Group reduced their target price on shares of Weatherford International from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Finally, Piper Sandler lowered their target price on shares of Weatherford International from $118.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Weatherford International currently has an average rating of “Moderate Buy” and an average price target of $115.57.

Weatherford International Profile

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.