Entropy Technologies LP Purchases Shares of 15,184 Weatherford International plc (NASDAQ:WFRD)

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

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

Weatherford International Stock Down 2.0 %

NASDAQ:WFRD traded down $1.73 during trading hours on Thursday, reaching $83.50. The company's stock had a trading volume of 1,088,779 shares, compared to its average volume of 917,916. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.04 and a quick ratio of 1.49. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. Weatherford International plc has a one year low of $77.00 and a one year high of $135.00. The business's 50-day moving average is $87.75 and its 200-day moving average is $106.50.

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 for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.42 billion. During the same period last year, the business earned $1.66 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that Weatherford International plc will post 6.91 EPS for the current year.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be issued 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 dividend payout ratio is currently 14.04%.

Insider Activity at Weatherford International

In other news, EVP David John Reed sold 6,805 shares of the firm'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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction 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 of the company's stock, valued at approximately $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 company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Raymond James lowered their price target on Weatherford International from $161.00 to $158.00 and set a "strong-buy" rating on the stock in a report on Thursday, July 25th. Barclays lowered their target price on 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 reduced their price target on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Evercore ISI lowered 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. Finally, Benchmark reiterated a "buy" rating and issued a $155.00 target price on shares of Weatherford International in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Weatherford International has a consensus rating of "Buy" and a consensus price target of $143.00.

Weatherford International Company 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.