Park Avenue Securities LLC Has $214,000 Position in Weatherford International plc (NASDAQ:WFRD)

Park Avenue Securities LLC cut its holdings in Weatherford International plc (NASDAQ:WFRD) by 23.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,523 shares of the company’s stock after selling 791 shares during the quarter. Park Avenue Securities LLC’s holdings in Weatherford International were worth $214,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Transcendent Capital Group LLC acquired a new stake in shares of Weatherford International in the 1st quarter valued at $29,000. Fidelis Capital Partners LLC bought a new stake in shares of Weatherford International during the 1st quarter worth about $33,000. Rise Advisors LLC bought a new stake in shares of Weatherford International during the 1st quarter worth about $34,000. Fifth Third Bancorp raised its stake in shares of Weatherford International by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock valued at $44,000 after acquiring an additional 85 shares in the last quarter. Finally, St. Johns Investment Management Company LLC acquired a new stake in Weatherford International in the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 97.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Benchmark reissued a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research report on Wednesday, July 24th. Citigroup cut their target price on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Bank of America lowered their price target on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday. Barclays boosted their price objective on Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Raymond James lowered their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $148.25.

Weatherford International Price Performance

Shares of WFRD stock opened at $93.13 on Tuesday. The stock has a 50 day moving average of $97.14 and a two-hundred day moving average of $112.02. The company has a current ratio of 1.99, a quick ratio of 1.47 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $6.81 billion, a P/E ratio of 15.07, a P/E/G ratio of 0.67 and a beta of 0.58. Weatherford International plc has a 12 month low of $82.16 and a 12 month high of $135.00.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 23rd. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the business earned $1.12 EPS. Weatherford International’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts expect that Weatherford International plc will post 6.81 EPS for the current year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Tuesday, August 13th. Weatherford International’s payout ratio is presently 16.18%.

Weatherford International Company Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.