Cetera Investment Advisers Sells 4,980 Shares of Weatherford International plc (NASDAQ:WFRD)

Cetera Investment Advisers cut its holdings in Weatherford International plc (NASDAQ:WFRD) by 27.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,492 shares of the company’s stock after selling 4,980 shares during the period. Cetera Investment Advisers’ holdings in Weatherford International were worth $1,652,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of WFRD. Transcendent Capital Group LLC bought a new stake in shares of Weatherford International during the 1st quarter valued at $29,000. Fidelis Capital Partners LLC purchased a new stake in shares of Weatherford International in the first quarter worth about $33,000. Rise Advisors LLC bought a new position in shares of Weatherford International in the first quarter valued at approximately $34,000. Fifth Third Bancorp grew its stake in Weatherford International by 31.0% during the second 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, GAMMA Investing LLC increased its holdings in 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 acquiring an additional 128 shares during the period. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Weatherford International Trading Down 1.3 %

WFRD stock opened at $93.13 on Tuesday. The company has a market capitalization of $6.81 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.67 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.47 and a current ratio of 1.99. Weatherford International plc has a one year low of $82.16 and a one year high of $135.00. The company’s 50 day moving average price is $97.14 and its two-hundred day moving average price is $112.02.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share 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 business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts predict that Weatherford International plc will post 6.81 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. Weatherford International’s dividend payout ratio (DPR) is currently 16.18%.

Analysts Set New Price Targets

WFRD has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Weatherford International from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Weatherford International in a research note on Wednesday, July 24th. Raymond James dropped their price target on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 25th. Citigroup decreased their price objective on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Bank of America dropped their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Weatherford International has a consensus rating of “Buy” and a consensus price target of $148.25.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

About Weatherford International

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.