Edgestream Partners L.P. Buys Shares of 42,575 Weatherford International plc (NASDAQ:WFRD)

Edgestream Partners L.P. bought a new stake in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 42,575 shares of the company's stock, valued at approximately $3,615,000. Edgestream Partners L.P. owned about 0.06% of Weatherford International at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFRD. Fred Alger Management LLC lifted its stake in shares of Weatherford International by 6,186.3% in the 3rd quarter. Fred Alger Management LLC now owns 42,118 shares of the company's stock worth $3,577,000 after purchasing an additional 41,448 shares during the period. Verition Fund Management LLC grew its position in Weatherford International by 223.3% during the third quarter. Verition Fund Management LLC now owns 26,533 shares of the company's stock valued at $2,253,000 after buying an additional 18,326 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Weatherford International by 402.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,482 shares of the company's stock valued at $27,555,000 after buying an additional 259,924 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Weatherford International by 4.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,982 shares of the company's stock worth $1,527,000 after acquiring an additional 723 shares during the period. Finally, Cynosure Group LLC boosted its stake in shares of Weatherford International by 73.8% during the 3rd quarter. Cynosure Group LLC now owns 11,537 shares of the company's stock worth $980,000 after acquiring an additional 4,898 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction on Friday, October 25th. The stock was 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 in the company, valued at $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David John Reed sold 6,805 shares of Weatherford International 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. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America reduced their price target on Weatherford International from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Barclays dropped their price target on Weatherford International from $154.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Evercore ISI reduced their price objective 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. Benchmark restated a "buy" rating and set a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Finally, Citigroup reduced their price target 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. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Weatherford International has an average rating of "Buy" and an average price target of $147.29.

Weatherford International Price Performance

Shares of NASDAQ WFRD traded up $1.34 during mid-day trading on Monday, hitting $83.64. 605,439 shares of the company's stock traded hands, compared to its average volume of 905,527. 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 1 year low of $77.00 and a 1 year high of $135.00. The company's 50-day moving average is $85.90 and its two-hundred day moving average is $103.12. The company has a market capitalization of $6.08 billion, a P/E ratio of 11.50, a PEG ratio of 0.69 and a beta of 0.60.

Weatherford International (NASDAQ:WFRD - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 earnings per share. On average, equities analysts anticipate that Weatherford International plc will post 6.85 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.20%. The ex-dividend date is Wednesday, November 6th. Weatherford International's payout ratio is 14.04%.

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.