Crossmark Global Holdings Inc. Cuts Stock Position in Weatherford International plc (NASDAQ:WFRD)

Crossmark Global Holdings Inc. cut its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 17.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,756 shares of the company’s stock after selling 1,194 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Weatherford International were worth $489,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in Weatherford International by 31.0% during the second quarter. Fifth Third Bancorp now owns 359 shares of the company’s stock worth $44,000 after buying an additional 85 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Weatherford International by 8.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,585 shares of the company’s stock valued at $188,000 after acquiring an additional 120 shares during the period. GAMMA Investing LLC increased its stake in shares of Weatherford International by 50.4% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $47,000 after purchasing an additional 128 shares during the last quarter. Covestor Ltd raised its holdings in shares of Weatherford International by 23.4% in the 1st quarter. Covestor Ltd now owns 918 shares of the company’s stock worth $106,000 after purchasing an additional 174 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in Weatherford International by 20.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,063 shares of the company’s stock valued at $129,000 after purchasing an additional 182 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Desmond J. Mills sold 6,531 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the transaction, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Weatherford International Trading Down 2.0 %

Shares of Weatherford International stock opened at $81.86 on Friday. The company’s 50-day moving average price is $87.59 and its 200-day moving average price is $106.05. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.70 and a beta of 0.60. Weatherford International plc has a 12-month low of $77.00 and a 12-month high of $135.00. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.41. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 EPS. On average, equities analysts expect that Weatherford International plc will post 6.91 earnings per share for the current fiscal year.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, November 6th. Weatherford International’s payout ratio is 14.04%.

Wall Street Analyst Weigh In

Several analysts have issued reports on WFRD shares. 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 research note on Thursday, July 25th. Evercore ISI lowered their price objective on Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Citigroup cut their target price on shares of Weatherford International from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research report on Thursday, October 24th. Finally, Barclays cut their price objective on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Weatherford International has a consensus rating of “Buy” and a consensus price target of $147.29.

Weatherford International 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.