Emerald Advisers LLC Sells 68,169 Shares of Weatherford International plc (NASDAQ:WFRD)

Emerald Advisers LLC trimmed its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 94.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,098 shares of the company's stock after selling 68,169 shares during the quarter. Emerald Advisers LLC's holdings in Weatherford International were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in Weatherford International by 364.9% in the third quarter. Farther Finance Advisors LLC now owns 358 shares of the company's stock worth $30,000 after buying an additional 281 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Weatherford International by 6.8% in the 3rd quarter. New York State Common Retirement Fund now owns 203,106 shares of the company's stock worth $17,248,000 after buying an additional 13,007 shares during the last quarter. State of Alaska Department of Revenue increased its position in Weatherford International by 246.1% during the third quarter. State of Alaska Department of Revenue now owns 27,530 shares of the company's stock valued at $2,337,000 after acquiring an additional 19,575 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in Weatherford International by 7.3% in the third quarter. Legacy Wealth Asset Management LLC now owns 2,997 shares of the company's stock valued at $255,000 after acquiring an additional 203 shares during the period. Finally, Net Worth Advisory Group purchased a new position in Weatherford International in the third quarter worth about $233,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Weatherford International

In related news, CAO Desmond J. Mills sold 6,531 shares of the firm'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 completion of the sale, the chief accounting officer now directly owns 11,680 shares in the company, valued at $932,764.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Desmond J. Mills sold 6,531 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.86, for a total value of $521,565.66. Following the sale, the chief accounting officer now directly owns 11,680 shares of the company's stock, valued at $932,764.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup cut their target price on shares of Weatherford International from $155.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Barclays reduced their price objective 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. 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. Raymond James reduced their target price on shares of Weatherford International from $161.00 to $158.00 and set a "strong-buy" rating for the company in a report on Thursday, July 25th. Finally, Bank of America dropped their target price on shares of Weatherford International from $145.00 to $130.00 and set a "buy" rating for the company in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $144.88.

Weatherford International Price Performance

Shares of NASDAQ:WFRD traded up $2.29 during mid-day trading on Monday, reaching $79.79. The stock had a trading volume of 972,103 shares, compared to its average volume of 915,870. The business's 50 day moving average price is $90.09 and its 200 day moving average price is $108.19. Weatherford International plc has a 1 year low of $77.00 and a 1 year high of $135.00. The company has a market cap of $5.80 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 0.79 and a beta of 0.60. The company has a current ratio of 2.04, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Weatherford International (NASDAQ:WFRD - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $2.06 EPS 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 firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company earned $1.66 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts expect that Weatherford International plc will post 6.74 EPS for the current fiscal year.

Weatherford International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Weatherford International's dividend payout ratio (DPR) is presently 14.04%.

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.