Weatherford International plc (NASDAQ:WFRD) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in shares of Weatherford International plc (NASDAQ:WFRD) by 9.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,756 shares of the company’s stock after selling 292 shares during the period. Nisa Investment Advisors LLC’s holdings in Weatherford International were worth $234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in Weatherford International by 246.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 27,530 shares of the company’s stock valued at $2,337,000 after purchasing an additional 19,575 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Weatherford International by 7.3% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 2,997 shares of the company’s stock valued at $255,000 after acquiring an additional 203 shares during the last quarter. Net Worth Advisory Group acquired a new position in shares of Weatherford International in the 3rd quarter worth $233,000. nVerses Capital LLC purchased a new stake in shares of Weatherford International during the third quarter valued at $34,000. Finally, Oliver Luxxe Assets LLC boosted its position in shares of Weatherford International by 80.8% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 20,971 shares of the company’s stock valued at $1,781,000 after purchasing an additional 9,372 shares during the period. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WFRD shares. Evercore ISI dropped their target price on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays dropped their price target on shares of Weatherford International from $154.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Citigroup reduced their price target on Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Bank of America lowered their target price on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Raymond James decreased their target price 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. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $144.88.

Insider Transactions at Weatherford International

In other news, CAO Desmond J. Mills sold 6,531 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the sale, the chief accounting officer now owns 11,680 shares of the company’s stock, valued at approximately $932,764.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at $932,764.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David John Reed sold 6,805 shares of the 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 disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Weatherford International Stock Performance

NASDAQ WFRD opened at $89.59 on Thursday. The company’s fifty day moving average is $89.57 and its two-hundred day moving average is $107.97. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.80 and a beta of 0.60. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. Weatherford International plc has a 52-week low of $77.00 and a 52-week high of $135.00.

Weatherford International (NASDAQ:WFRD) last issued its earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.65 by $0.41. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. Weatherford International’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $1.66 earnings per share. Equities research analysts forecast that Weatherford International plc will post 6.74 EPS for the current year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. Weatherford International’s dividend payout ratio is currently 14.04%.

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.