Entropy Technologies LP Makes New Investment in Weatherford International plc (NASDAQ:WFRD)

Entropy Technologies LP acquired a new stake in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,184 shares of the company's stock, valued at approximately $1,289,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in Weatherford International during the first quarter valued at approximately $29,000. Farther Finance Advisors LLC increased its holdings in shares of Weatherford International by 364.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 358 shares of the company's stock valued at $30,000 after purchasing an additional 281 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Weatherford International by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 359 shares of the company's stock valued at $44,000 after purchasing an additional 85 shares during the period. GAMMA Investing LLC boosted its holdings in Weatherford International by 50.4% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $47,000 after buying an additional 128 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Weatherford International during the third quarter valued at $34,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Weatherford International Trading Down 2.0 %

Weatherford International stock traded down $1.73 during trading on Thursday, reaching $83.50. 1,088,779 shares of the company were exchanged, compared to its average volume of 917,916. The stock's 50 day simple moving average is $87.75 and its two-hundred day simple moving average is $106.50. The company has a market capitalization of $6.07 billion, a P/E ratio of 11.73, a PEG ratio of 0.75 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 - Get Free Report) last posted its quarterly 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. Weatherford International had a return on equity of 46.25% and a net margin of 9.65%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm earned $1.66 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Weatherford International plc will post 6.91 earnings per share for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, November 6th. Weatherford International's payout ratio is presently 14.04%.

Insider Activity at Weatherford International

In other news, EVP David John Reed sold 6,805 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Desmond J. Mills sold 6,531 shares of the company's 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 transaction, 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 disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered 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 note on Thursday, October 24th. Barclays dropped their price objective on Weatherford International from $154.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Benchmark reiterated a "buy" rating and set a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Citigroup dropped their price target on shares of Weatherford International from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Raymond James reduced their price objective on shares of 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 company presently has an average rating of "Buy" and an average target price of $143.00.

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.