Los Angeles Capital Management LLC Trims Stock Holdings in Weatherford International plc (NASDAQ:WFRD)

Los Angeles Capital Management LLC cut its position in shares of Weatherford International plc (NASDAQ:WFRD - Free Report) by 64.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,684 shares of the company's stock after selling 17,706 shares during the quarter. Los Angeles Capital Management LLC's holdings in Weatherford International were worth $822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WFRD. Transcendent Capital Group LLC bought a new position in shares of Weatherford International in the 1st quarter worth about $29,000. Farther Finance Advisors LLC lifted its stake in Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company's stock valued at $30,000 after buying an additional 281 shares during the period. nVerses Capital LLC acquired a new stake in shares of Weatherford International during the 3rd quarter worth approximately $34,000. Fifth Third Bancorp increased 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 acquiring an additional 85 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Weatherford International by 36.9% in the 3rd quarter. GAMMA Investing LLC now owns 523 shares of the company's stock valued at $44,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Weatherford International Price Performance

Shares of WFRD traded down $1.64 during midday trading on Friday, reaching $81.86. The stock had a trading volume of 726,137 shares, compared to its average volume of 1,219,882. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 0.70 and a beta of 0.60. The company's 50-day moving average is $87.59 and its 200 day moving average is $106.17. Weatherford International plc has a 12-month low of $77.00 and a 12-month high of $135.00.

Weatherford International (NASDAQ:WFRD - Get Free Report) last released its earnings results 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 company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the company posted $1.66 EPS. Weatherford International's revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that Weatherford International plc will post 6.91 EPS for the current fiscal year.

Weatherford International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 6th. Weatherford International's dividend payout ratio is 14.04%.

Wall Street Analyst Weigh In

WFRD has been the topic of several research reports. Raymond James lowered their price objective on shares of Weatherford International from $161.00 to $158.00 and set a "strong-buy" rating on the stock in a report on Thursday, July 25th. Benchmark reiterated a "buy" rating and set a $155.00 price target on shares of Weatherford International in a research note on Thursday, October 24th. Evercore ISI decreased their price objective on Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Citigroup dropped their target price on Weatherford International from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday. Finally, 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 report on Monday, October 14th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $147.29.

Insider Buying and Selling

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the business's stock in a transaction on 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 filing with the SEC, which can be accessed through this hyperlink. Also, CAO Desmond J. Mills sold 6,531 shares of the firm's 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 sale, the chief accounting officer now directly owns 11,680 shares of the company's stock, valued at approximately $932,764.80. This 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 owned by insiders.

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.