Algert Global LLC Has $4.38 Million Stock Position in Weatherford International plc (NASDAQ:WFRD)

Algert Global LLC grew its position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 591.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,539 shares of the company's stock after buying an additional 44,090 shares during the quarter. Algert Global LLC owned approximately 0.07% of Weatherford International worth $4,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new stake in Weatherford International in the second quarter worth approximately $1,653,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Weatherford International in the 2nd quarter valued at $20,584,000. Cetera Investment Advisers acquired a new stake in shares of Weatherford International in the 1st quarter valued at $2,132,000. Merewether Investment Management LP increased its position in Weatherford International by 38.8% during the second quarter. Merewether Investment Management LP now owns 549,803 shares of the company's stock worth $67,323,000 after buying an additional 153,800 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Weatherford International by 4.3% in the first quarter. Gabelli Funds LLC now owns 5,005 shares of the company's stock worth $578,000 after buying an additional 205 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Stock Performance

Shares of NASDAQ:WFRD traded down $1.45 on Monday, hitting $84.38. 772,374 shares of the company were exchanged, compared to its average volume of 913,125. The company's 50 day moving average price is $86.80 and its two-hundred day moving average price is $104.28. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.72 and a beta of 0.60. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 2.04. Weatherford International plc has a one year low of $77.00 and a one year high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The firm had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the prior year, the firm posted $1.66 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts expect that Weatherford International plc will post 6.91 earnings per share for the current year.

Weatherford International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. Weatherford International's dividend payout ratio is currently 14.04%.

Analysts Set New Price Targets

Several analysts have recently issued reports on WFRD shares. Bank of America decreased their price target on Weatherford International from $145.00 to $130.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Evercore ISI reduced their price objective on shares of Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Benchmark reiterated a "buy" rating and issued a $155.00 target price on shares of Weatherford International in a research note on Thursday, October 24th. Citigroup dropped their target price on shares of Weatherford International from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Finally, Barclays lowered their price target on Weatherford International from $154.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $147.29.

Insider Buying and Selling at Weatherford International

In other news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction dated 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 directly owns 11,680 shares of the company's stock, valued at $932,764.80. This trade represents a 35.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

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.