Weatherford International plc (NASDAQ:WFRD) Position Reduced by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its stake in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 16.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 757,842 shares of the company's stock after selling 153,975 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.04% of Weatherford International worth $64,356,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new position in shares of Weatherford International during the second quarter worth about $1,653,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Weatherford International in the 2nd quarter worth approximately $20,584,000. Cetera Investment Advisers bought a new stake in shares of Weatherford International in the 1st quarter valued at approximately $2,132,000. Merewether Investment Management LP raised its position in shares of Weatherford International by 38.8% during the 2nd quarter. Merewether Investment Management LP now owns 549,803 shares of the company's stock valued at $67,323,000 after acquiring an additional 153,800 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Weatherford International by 33.0% during the second quarter. Millennium Management LLC now owns 631,862 shares of the company's stock worth $77,372,000 after purchasing an additional 156,756 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Stock Performance

Weatherford International stock traded down $0.24 during mid-day trading on Friday, hitting $82.30. 350,439 shares of the company's stock traded hands, compared to its average volume of 906,827. The company has a quick ratio of 1.49, a current ratio of 2.04 and a debt-to-equity ratio of 1.20. Weatherford International plc has a one year low of $77.00 and a one year high of $135.00. The firm has a 50 day moving average price of $86.17 and a 200 day moving average price of $103.70. The company has a market cap of $5.98 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 0.70 and a beta of 0.60.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.41. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. Weatherford International's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 EPS. On average, equities analysts forecast that Weatherford International plc will post 6.85 EPS for the current year.

Weatherford International Dividend Announcement

The company 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 6th. Weatherford International's payout ratio is currently 14.04%.

Analyst Ratings Changes

A number of brokerages have weighed in on WFRD. Benchmark reissued a "buy" rating and set a $155.00 target price on shares of Weatherford International in a report on Thursday, October 24th. Barclays dropped their price objective 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. Bank of America lowered their target price on Weatherford International from $145.00 to $130.00 and set a "buy" rating for the company in a report on Monday, October 14th. Citigroup cut their price target on Weatherford International from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Finally, Evercore ISI lowered their price objective on Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $147.29.

Insider Activity

In related news, CAO Desmond J. Mills sold 6,531 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $79.86, for a total transaction of $521,565.66. Following the completion of the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David John Reed sold 6,805 shares of the company'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 disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

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.