Victory Capital Management Inc. Sells 28,398 Shares of Weatherford International plc (NASDAQ:WFRD)

Victory Capital Management Inc. decreased its position in Weatherford International plc (NASDAQ:WFRD) by 8.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,303 shares of the company’s stock after selling 28,398 shares during the period. Victory Capital Management Inc. owned approximately 0.41% of Weatherford International worth $36,405,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc boosted its holdings in shares of Weatherford International by 2.4% during the 2nd quarter. TD Asset Management Inc now owns 212,000 shares of the company’s stock valued at $25,959,000 after acquiring an additional 5,000 shares during the last quarter. Fiera Capital Corp lifted its holdings in Weatherford International by 0.8% in the second quarter. Fiera Capital Corp now owns 24,392 shares of the company’s stock valued at $2,987,000 after acquiring an additional 205 shares during the period. Natixis Advisors LLC boosted its position in Weatherford International by 152.5% in the second quarter. Natixis Advisors LLC now owns 63,269 shares of the company’s stock worth $7,747,000 after purchasing an additional 38,216 shares during the last quarter. Montag A & Associates Inc. bought a new stake in shares of Weatherford International during the 2nd quarter valued at about $3,920,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Weatherford International by 29.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,879 shares of the company’s stock worth $353,000 after purchasing an additional 651 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Raymond James decreased their price target on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Barclays boosted their price target on Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Bank of America raised their price objective on Weatherford International from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research note on Wednesday, July 24th. Finally, Citigroup initiated coverage on shares of Weatherford International in a research note on Tuesday, May 14th. They set a “buy” rating and a $155.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $153.88.

Weatherford International Trading Up 1.0 %

Shares of Weatherford International stock opened at $90.95 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.64 and a beta of 0.61. Weatherford International plc has a twelve month low of $82.16 and a twelve month high of $135.00. The business has a 50-day moving average price of $112.96 and a 200-day moving average price of $115.55.

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm earned $1.12 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Weatherford International plc will post 6.81 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, August 13th. Weatherford International’s payout ratio is 16.18%.

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.