Weatherford International plc (NASDAQ:WFRD) Shares Purchased by Point72 DIFC Ltd

Point72 DIFC Ltd grew its holdings in Weatherford International plc (NASDAQ:WFRD - Free Report) by 165.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 33,204 shares of the company's stock after buying an additional 20,672 shares during the period. Point72 DIFC Ltd's holdings in Weatherford International were worth $2,820,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WFRD. Cetera Investment Advisers purchased a new position in Weatherford International during the first quarter worth about $2,132,000. Cetera Advisors LLC raised its holdings in Weatherford International by 9.5% during the first quarter. Cetera Advisors LLC now owns 3,044 shares of the company's stock worth $351,000 after purchasing an additional 265 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Weatherford International by 119.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 881 shares of the company's stock worth $100,000 after purchasing an additional 480 shares in the last quarter. GAMMA Investing LLC raised 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 purchasing an additional 128 shares in the last quarter. Finally, CWM LLC raised its holdings in Weatherford International by 74.1% during the second quarter. CWM LLC now owns 552 shares of the company's stock worth $68,000 after purchasing an additional 235 shares in the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Desmond J. Mills sold 6,531 shares of the firm's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 11,680 shares in the company, valued at approximately $932,764.80. This trade represents a 35.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WFRD. Citigroup cut their price target on shares of Weatherford International from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Barclays dropped their target price on shares of Weatherford International from $154.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, October 25th. 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. Benchmark reaffirmed a "buy" rating and issued a $155.00 target price on shares of Weatherford International in a report on Thursday, October 24th. Finally, Evercore ISI dropped their target price on shares of Weatherford International from $149.00 to $142.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Weatherford International presently has an average rating of "Buy" and a consensus price target of $147.29.

Weatherford International Price Performance

Shares of WFRD stock traded down $2.08 during trading hours on Thursday, hitting $82.72. The company's stock had a trading volume of 621,913 shares, compared to its average volume of 903,450. The business has a fifty day moving average of $85.41 and a 200-day moving average of $102.44. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 0.72 and a beta of 0.58. Weatherford International plc has a twelve month low of $77.00 and a twelve month high of $135.00. 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 released its quarterly earnings results on Tuesday, October 22nd. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.65% and a return on equity of 46.25%. The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.66 earnings per share. As a group, equities research analysts anticipate that Weatherford International plc will post 6.85 EPS for the current year.

Weatherford International Dividend Announcement

The firm 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 $0.25 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. Weatherford International's dividend payout ratio 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.